Lean Hogs Gain Triple Digits for Weekend

At the closing bell on Friday, lean hog futures were $0.15 to $1.77 higher, with triple digit gains for the 2020 expiry contracts. The triple digit gain for Oct, pushed the contract $1.35 above last Friday’s close. The CME Lean Hog index was $52.78 on Aug 4, after pulling back 14 cents. USDA’s National Average Afternoon Base Hog price for Friday was 17 cents stronger to $38.11. USDA’s National Pork Carcass Cutout value was up $1.13 on Friday to $71.93. The weekly update from CFTC showed lean hog spec traders were 2,850 contracts more net long to 13,571 on August 4. That came via net new buying. USDA’s estimate for the week’s FI hog slaughter is 2.534 million head through Saturday. That is up 184,000 head yr/yr on another strong Saturday kill. YTD slaughter is running 1% higher yr/yr with 77.087 million head so far.

Aug 20 Hogs closed at $51.000, up $1.250,

Oct 20 Hogs closed at $50.975, up $1.775

Dec 20 Hogs closed at $52.925, up $1.425

--- provided by Brugler Marketing & Management




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