Lean Hogs Market News and Commentary

Lean Hog futures are posting triple digit gains in most nearby contracts on Friday. The CME Lean Hog Index was down 10 cents from the previous day @ $51.75 on March 6. Futures expect cash to rally, but the puzzle pieces haven’t settled into place yet. The USDA pork carcass cutout value was up 63 cents on Friday morning at an average weighted price of $64.88. The national base hog carcass value was not reported due to confidentiality reasons. USDA estimated FI hog slaughter through Thursday at 1.895 million head. US pork stocks in cold storage at the end of January were 562.71 million pounds, down 3.1% from the year prior. Pork production for 2019 was estimated at 27.43 billion lbs this morning by USDA, up 90 million from last month.

Apr 19 Hogs are at $59.775, up $2.050,

May 19 Hogs are at $68.075, up $1.500

Jun 19 Hogs are at $77.425, up $1.900

--provided by Brugler Marketing & Management

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