Lean hog futures closed the Monday session down by as much as 80 cents. Dec gained 25 cents to $65.15 cwt as the exception to the rule. Pork Cutout futures closed mixed on Monday, with a 60 cent gain in Dec and a 55 cent drop in Feb. The Dec-Feb carry is $6.90 cwt. 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! The CME Lean Hog Index for the 12th was another 48 cents weaker at $70.84. USDA’s National Average Afternoon Base Hog price was up 45 cents lower at $59.27. USDA’s National Pork Carcass Cutout value was $81.15 on Monday afternoon with a $1.01 bump. The CoT report with data from 11/10 showed lean hog speculative traders 33,935 contracts net long. That was a 1,779 weaker net long on the week via new sellers. Chinese hog herd data showed the October count was up 27% from October 2019. Sow numbers rebounded 32% yr/yr as China aggressively encourages rebuilding. Federally inspected hog slaughter for Monday was estimated at 491,000 head. That compares to 493k both last week and last year.

— provided by Brugler Marketing & Management