Lean Hogs Market News and Commentary

Lean Hog futures are using expanded limits in most contracts on Thursday, with most contracts $3 to $4.50 higher. The CME Lean Hog Index was up $1.68 from the previous day @ $59.22 on March 19. Futures have been anticipating the rally in cash for several weeks now and are finally seeing the follow through. The USDA pork carcass cutout value was up $2.33 on Thursday morning at an average weighted price of $76.38. The national base hog carcass value was up 64 cents in the AM report at an average weighted price of $61.09. USDA estimated WTD FI hog slaughter at 1.409 million head, up 5,000 from the previous week and 25,000 above last year. Export sales of pork for the week that ended on March 15 totaled 29,302 MT, with 3,043 MT sold to China and Mexico buying 15,500 MT.

Apr 19 Hogs are at $76.950, up $3.125,

May 19 Hogs are at $85.675, up $3.525

Jun 19 Hogs are at $94.300, up $4.050

--provided by Brugler Marketing & Management

Market Commentary provided by:

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