Lean Hogs Market Commentary

Lean Hog futures saw triple digit gains in the Feb through August contracts yesterday. Nearby Dec was down $1.025 as it needs to stay close to the cash market ahead of expiration. The CME Lean Hog Index was up 2 cents from the previous day @ $56.38 on December 3. The USDA pork carcass cutout value was up 82 cents on Wednesday afternoon at $71.70. The national base cash hog carcass value was down $1.14 yesterday afternoon at an average weighted price of $47.51. USDA’s FI hog slaughter was estimated at 477,000 head for Wednesday, bringing the WTD total to 1.422 million head. That was up 30,000 head from last week and 31,000 head larger than the same week last year.

--provided by Brugler Marketing & Management

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