Lean Hog Finish Higher
BRUG - Tue Nov 12, 4:51PM CST

Lean hog futures rallied triple digits for turnaround Tuesday, gaining as much as $1.82. The 11/08 CME Lean Hog Index fell by $0.85, to $59.44. The pork carcass cutout value gained $2.19 on the day, and finished at $88.53; Ribs were down by $1.41 as the only primal cut to finish lower at the close. The national average base hog price was 10 cents higher to $42.69. The USDA estimated FI hog slaughter through Tuesday was 936,000 head; that is 48,000 head behind last Tuesday’s estimation. Since the National Day festivities, domestic pork prices in China have knowingly skyrocketed, as the shortage has spread to the government reserves of frozen imported pork. Chinese officials are reportedly planning new policies to maintain price levels, one of which is to import American poultry as a substitute to expensive pork, and the other is to mandate private storage firms to release their supplies; watch for the new policies to take effect before the Chinese Lunar New Year in January.

DEC 19 Hogs closed at $64.725, up $1.425,

FEB 19 Hogs closed at $75.550, up $1.825

APR 20 Hogs closed at $82.025, up $1.375

--provided by Brugler Marketing & Management




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