Hogs Gain in Afternoon

After trading in the red at midday, Friday hog futures closed 2 to 82 cents higher. May futures stayed 32 cents in the red at the close. For December hog futures, that reduced the weekly move to minus $2.78. The CME Lean Hog Index for 10/21 was $78.60, 9 cents weaker. USDA’s National Average Base Hog price was $59.55 in the PM update, down by $1.27. Through short covering on the week ending 10/20, managed money extended their lean hog net long to 42,058 contracts. USDA’s National Pork Carcass Cutout value was a sharp $5.59 lower in the PM report at $93.25. Hams and bellies fell back by double digits, down $12.71 and $17.02 respectively. USDA estimated FI hog slaughter at 2.679 million head for the week through Saturday. That was down 11k yr/yr, but YTD slaughter still has a 1% lead over 2019’s pace.

Dec 20 Hogs closed at $67.025, up $0.825,

Feb 21 Hogs closed at $66.925, up $0.075

Apr 21 Hogs closed at $69.725, up $0.025

--- provided by Brugler Marketing & Management




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