Hogs Higher for Weekend

Nearby lean hog futures go into the three day weekend 5 to 57 cents higher. Feb futures were up the most, closing up by $1.62. Pork cutout futures ended up 10 cents to $1.35 higher. The CME Lean Hog Index was another 39 cents higher on 1/13 to 65.87. USDA’s National Average Base Hog price was down another $1.26 on Friday PM at $52.72. The ECB base hog price was reported at $52.10, compared to $54.19 in WCB. The National Pork Carcass Cutout value was $0.48 weaker in the PM report at $80.07. Managed money funds were net buyers of lean hogs on the week ending 1/12. Spec trader OI increased 5,301 contracts extending the net long 1,665 to 38,742 contracts. USDA’s estimate for the week’s hog slaughter through Saturday is 2.654 million. That is down from the 2.849m record last week, but up 158,000 head from the same week last year. YTD slaughter is estimated at 5.829m head.   

Feb 21 Hogs closed at $67.925, up $1.625,
Apr 21 Hogs closed at $72.650, up $0.575
May 21 Hogs closed at $77.600, up $0.150
Feb 21 Pork Cutout closed at $78.850, up $1.350,

--- provided by Brugler Marketing & Management

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