Lean Hogs Market Commentary

Lean hog futures settled the Friday session mixed, with nearby Aug down 17.5 cents and December up 15 cents. The CME Lean Hog Index was down $1.29 on August 8, to $61.88. The USDA pork carcass cutout value was down 38 cents from the previous day at $71.07 on Friday afternoon. The ham and picnic primal cuts were both reported higher. The national base hog carcass value was down $1.76 in the Friday PM report, with the weighted average @ $45.93. USDA estimated weekly hog slaughter at 2.333 million head through Saturday. That is up 13,000 head from last week due to huge Saturday slaughter and 49,000 head above the same week last year. The USDA supply and demand table for pork shows estimated pork production in 2018 at 26.71 billion pounds, down 35 million. The 2019 number was increased 175 million to 27.875 billion pounds.

Aug 18 Hogs closed at $54.800, down $0.175,

Oct 18 Hogs closed at $51.175, down $0.225

Dec 18 Hogs closed at $47.475, up $0.150

Market Commentary provided by:

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