Lean Hogs Continue Big Daily Swings
BRUG - Wed Nov 13, 7:29AM 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. 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 skyrocketed. 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 require private storage firms to release their supplies (some hoarding has been reported).

--provided by Brugler Marketing & Management




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