Hog Gains near the Dollar Mark

Lean hogs futures came back down from midday triple digit highs, but prices still closed up near the dollar mark. Nearby futures were $0.82 to $0.95 higher at the end of Thursday. The 01/20 CME Lean Hog Index was at $61.02 after an 84 cent increase. USDA’s Pork Carcass Cutout was up a dime in the afternoon report. Primal cuts were mixed, with Hams down $4.34. USDA’s Afternoon National Average Base Hog price was 15 cents higher to $52.07. For the week ending 01/16 feedlots and packers imported 96,958 live hogs from Canada. Compared to the same week last year, that was an increase of 2,835 head. Last year, in total 5,109,211 head were imported from Canada. USDA Revised their Wednesday slaughter estimate lower, and projected weekly slaughter through Thursday at 1.894 million head. That is 96,000 head behind last week, but 88,000 head more than the same week last year. Prestage Farms in Iowa is still ramping up first shift runs at its new Eagle Point plant.

Feb 20 Hogs closed at $68.500, up $0.950,

Apr 20 Hogs closed at $75.350, up $0.825

May 20 Hogs closed at $81.775, up $0.925

---provided by Brugler Marketing & Management




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