Lean Hogs See Rising CME Index

Lean Hog futures saw gains of 22.5 cents for Oct, but down by as much as a dollar for Dec. The CME Lean Hog Index was up 78 cents to $57.83 on Oct 1. The USDA pork carcass cutout value was up $1.24 to $75.36 on Thursday afternoon. Primal cuts closed mixed, with ham down $2.76 and loin $3.29 higher. The national average base hog value was 68 cents higher at $49.99. FI week to date estimated hog slaughter is ahead of last year’s pace by 5.2% at 1.957 million head. USDA pork export sales were 30,974 MT in the week of 9/26, with 10,700 MT for Mexico. Shipments were 23,152 MT in that week. Last week’s exports to China were 6,022 MT of pork with 2019 sales 1,350 MT and 2020 sales of 3,483 MT. African Swine Fever continues to be a problem for Southeastern Asian countries, as South Korea confirmed another 2 cases, with Vietnam and China also experiencing huge herd losses.

-- provided by Brugler Marketing & Management




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