Lean Hogs Snugging Up to Index Ahead of Expiration

Lean Hog futures closed mixed on Thursday, with soon to expire Aug down 37.5 cents and deferred months showing gains of $1.025 to $1.825. The CME Lean Hog Index was down 76 cents from the previous day on August 6 at $83.43. The USDA pork carcass cutout value was up 29 cents on Thursday afternoon at $88.69. The national average base hog value was $1.52 lower in the Thursday PM report at $72.01. Estimated FI hog slaughter WTD through Thursday was 1.852 million head, down 12,000 head from the previous week and 74,000 head above the same week a year ago. USDA Export sales data showed 13,738 MT of pork sold in the week of August 1, a weekly increase of 55%. Sales of 1,350 MT were reported for China, with shipments of 8,569 MT. Overall pork exports totaled 26,736 MT in that week.

---provided by Brugler Marketing & Management

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