Lean Hogs Market Commentary

Lean hog futures posted 65 cent to $1.525 gains in most contracts yesterday. The CME Lean Hog Index was up 55 cents on September 10 to $47.55. The USDA pork carcass cutout value was $1.62 higher @ $70.86 in the Wednesday afternoon FOB plant report. The national base hog carcass value was $1.46 higher @ $47.48. FI hog slaughter through Wednesday was estimated at 1.338 million head, down 31,000 head from the same week last year as plants along the East Coast prepare for Hurricane Florence. Projected pork production for 2018 was trimmed by 35 million pounds in the WASDE report, to 26.675 billion pounds on lower third quarter production.




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