Lean Hogs Look For Export or Domestic Demand

Lean Hog futures settled 12.5 cents to $1.825 higher in most contracts on Tuesday. The CME Lean Hog Index was down another 94 cents at $63.75 on September 6. The USDA pork carcass cutout value FOB plant was up 8 cents on Tuesday afternoon at $71.99. One would have expected a bigger pop in the cutout if the Chinese were actually buying. The national average base hog value was $1.72 lower at $48.93. Estimated FI hog slaughter was 970,000 head through Tuesday, 40,000 head above the same week in 2018. We will have to have a number of weeks later this fall with 2.5-2.6 million head runs.

-- provided by Brugler Marketing & Management

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