Lean hog futures are UNCH to 40 cents lower. The new Pork Cutout Futures are mixed with low volume and thin open interest. The CME Lean Hog Index for the 12th was another 48 cents weaker at $70.84. CME’s Fresh Bacon Index for the week ending 11/13 was $141.67. That was down an additional $16.70 on the week, as the index has fallen $80.78 in just 3 weeks! USDA’s National Average Base Hog price was up 16 cents for the morning, at $59.56. USDA’s National Pork Carcass Cutout value was $82.03 on Monday morning with a $1.89 bump. Hams were the largest swing, with a $6.09 increase to $85.87. Chinese hog herd data showed the October count was up 27% from October 2019. Sows specifically rebounded 32% yr/yr as China aggressively encourages rebuilding. USDA estimated last week’s FI hog slaughter through Saturday at 2.688 million head.
| Dec 20 Hogs are at $64.850, down $0.050, |
| Feb 21 Hogs are at $64.575, unch, |
| Apr 21 Hogs are at $68.000, down $0.025 |
| Dec 20 Pork Cutout is at $80.125, up $0.325, |
— provided by Brugler Marketing & Management
