Hogs Limit Up Nearly Across the Board

Lean Hog futures are showing limit gains at midday, on decent Export Sales data and Chinese rumors. USDA reported 21,886 MT of pork sold for export during the week of 9/6, with 10,878 MT to China. Actual exports were at 20,910 MT, with 5,146 headed to China. There are rumors they are buying a lot more pork this week. The CME Lean Hog Index was down another $1.14 at $61.85 on September 10. The USDA pork carcass cutout value FOB plant was down $1.87 on Thursday morning at $70.58. The national average base hog value was $1.02 lower at $46.28. Estimated FI hog slaughter was 1.457 head through Wednesday, 117,000 head above the same week in 2018. This morning’s WASDE showed US pork production projected for 2019 down 55 million lbs to 27.678 billion. Production for 2020 was seen steady at 28.41 billion lbs.

OCT 19 Hogs are at $63.175, up $3.000,

DEC 19 Hogs are at $64.200, up $3.000

FEB 20 Hogs are at $70.600, up $3.000

-- provided by Brugler Marketing & Management




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