Lean Hogs Deciphering Large Cold Storage Number

Lean hog futures closed the Wednesday trading session with gains of 20 cents to 70 cents. The 01/20 CME Lean Hog Index was 4 cents higher to $60.18. USDA’s Pork Carcass Cutout gained another $0.55 this afternoon, up to $79.74 cwt. USDA’s National Average Afternoon Base Hog price was back up by 16 cents to $51.90. The USDA monthly cold storage report showed that frozen pork in coolers December 31st totaled 580.904 million lbs. Compared to last year, that is up 14.97%, and was a one month increase of 1.05%. December pork in storage was the highest on record for that month. Belly stocks were seen at 68.015 million lbs, which was an increase of 61% yr/yr and a 25% increase over the end of November. USDA estimated week to date FI hog slaughter at 1.402 million head through Wednesday.

---provided by Brugler Marketing & Management




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