Hogs Close Higher, Use Expanded Limits in Dec

Lean Hog futures posted a triple digit bounce on Turnaround Tuesday, with Dec up $3.15. We will revert back to the usual $3 limits for Wednesday. The CME Lean Hog Index was down a penny to $59.22 on Oct 4. The USDA pork carcass cutout value for Tuesday was 30 cents lower at $77.45 in the afternoon report. The national average base hog value was up $2.28 on Tuesday, at $52.01. FI hog slaughter for this week through Tuesday was estimated at 973,000 head by the USDA. That is down 6,000 head from last week as Monday’s kill was revised 5,000 head lower but is still 48,000 head above last year.

OCT 19 Hogs closed at $61.700, up $1.200,

DEC 19 Hogs closed at $67.400, up $3.150

FEB 20 Hogs closed at $73.600, up $2.125

-- provided by Brugler Marketing & Management

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