Lean Hogs Market News and Commentary

Lean Hog futures were anywhere from $2.10 lower to $1.075 higher on Friday, as April was up 13.84% following two limit up days this week. The 2020 contracts are anticipating over expansion due to these prices. The CME Lean Hog Index was up $1.53 from the previous day @ $60.75 on March 20. The USDA pork carcass cutout value was up $1.54 on Friday afternoon at an average weighted price of $77.79. The national base hog carcass value was up $2.29 in the PM report at an average weighted price of $66.44. USDA estimated WTD FI hog slaughter at 2.508 million head through Saturday. Total pork stocks in cold storage at the end of Feb were 615.979 million pounds, up 1.02% vs. a year ago and 9.46% larger than January. Belly stocks were seen at 53.796 million pounds, just 0.11% larger than January. Money managers in lean hog futures and options flipped their net position by 11,723 contracts for the week that ended on Tuesday to a CFTC net long position of 8,090 contracts.

Apr 19 Hogs closed at $78.325, unch,

May 19 Hogs closed at $87.025, up $0.425

Jun 19 Hogs closed at $95.675, up $0.925

--provided by Brugler Marketing & Management




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