Hogs in the Green on a Continued Decline in China’s Herd

Lean Hog futures are showing most contracts firm to 50 cents higher on Monday. The CME Lean Hog Index was down 2 cents from the previous day @ $79.34 on April 11. The USDA pork carcass cutout value was $2.50 higher at $88.21 per cwt in the morning report. The loin and ham primals were reported lower, with the volatile belly up $15.24. The national base hog carcass value was down 1.02 in the AM report, at an average weighted price of $75.23. Estimated FI hog slaughter was 2.384 million head through Saturday, down 74,000 from the previous week but still 12,000 above last year. The Chinese hog herd was down 18.8% yr/yr at the end of March according to the country’s ag ministry. In addition, their sow herd is down 21% in the same time period.

May 19 Hogs are at $90.075, up $0.475,

Jun 19 Hogs are at $98.525, up $0.025

Jul 19 Hogs are at $101.550, up $0.200

--provided by Brugler Marketing & Management

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