Lean Hogs Limit Down on Weaker Export Data

Lean Hog futures posted limit losses in all 2019 contracts but nearby May, down $1.325. This morning’s Export Sales report showed just 15,505 MT in pork bookings for the week ending 4/18. That was well below last week and far below two weeks ago. China net cancelled 214 tonnes. The CME Lean Hog Index was up another 72 cents from the previous day @ $82.79 on April 23. The USDA pork carcass cutout value was $3.26 lower in the Thursday afternoon report, at $83.72. That was a complete reversal from the AM report. The often-volatile belly led the way, down $22.78 per hundredweight. The national average base hog was at $81.24 on Thursday, up 50 cents from the day prior. Estimated week to date FI hog slaughter is 1.752 million head through Thursday. That was down from last year and the week prior due to Monday’s plant down time.

May 19 Hogs closed at $87.850, down $1.325,

Jun 19 Hogs closed at $89.775, down $3.000

Jul 19 Hogs closed at $94.650, down $3.000

--provided by Brugler Marketing & Management




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