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

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.