Lean hog futures were mixed at yesterday’s close. The nearbys were down by 22 to 87 cents at the close, where the back months ended 5 to 55 cents in the black. The CME Lean Hog Index for 11/06 was $71.13, a penny higher. USDA’s National Average Base Hog price for Tuesday afternoon was 59 cents lower, at $60.34. The new supply and demand tables from USDA increased 2020’s pork production 24 million lbs to 28.181 billion lbs. For 2021 production, the November forecast saw 505m lbs less in Q3 partially offset by 310m lbs extra in Q2 for a net 25m lb lower yearly production of 28.485 billion. The National Pork Carcass Cutout value was $2.71 lower in USDA’s PM report, at $82.98. USDA’s Tuesday FI hog slaughter is 986,000 head WTD. That puts it even with last week’s pace.

— provided by Brugler Marketing & Management