Lean Hogs

Lean hog futures are posting limit gains in October and December contracts, with nearby August up 32.5 cents. The CME Lean Hog Index was down $1.47 on August 7, to $63.17. The USDA pork carcass cutout value was up $2.14 from the previous day at $73.11 on Thursday morning. The picnic and rib were the only primal cuts reported lower, with the belly up $8.37. The national base hog carcass value was down $1.84 on Thursday morning, with the weighted average totaling $45.85. USDA estimated Week to Date FI hog slaughter at 1.31 million head through Wednesday. That is down 33,000 head from last week due to plant downtime but 30,000 head above the same week last year. Pork export sales during the week that ended on August 2 were 24,871 MT, down 30.5% from last week but 31.5% larger than last year.

Aug 18 Hogs are at $55.125, up $0.325,

Oct 18 Hogs are at $51.400, up $3.000

Dec 18 Hogs are at $47.375, up $3.000

Market Commentary provided by:

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