Hogs Pulling Back so far

Midday lean hog futures prices are 12 to 65 cents in the red. Nearby Cutout futures are down 20 to 50 cents. The CME Lean Hog Index was another 99 cents higher on 1/12 to 65.48. USDA’s National Average Base Hog price was down $0.50 this morning to $53.70. The National Pork Carcass Cutout value was $83.67 in the AM report, recovering $5.54 on ham and belly strength. Bellies were up $19.02 in the Am quote, and hams were up by $13.94. USDA’s weekly pork export sales were reported at 23,782 MT. Pork shipments were 30,008 MT for the week ending 1/7. USDA’s estimate for WTD FI hog slaughter is 1.494 million head through Wednesday. That is 20,000 head more than last week’s pace, and up 1,000 head yr/yr.

Feb 21 Hogs are at $66.725, down $0.125,
Apr 21 Hogs are at $72.550, down $0.400
May 21 Hogs are at $77.750, down $0.650
Feb 21 Pork Cutout is at $77.600, down $0.200,

--- provided by Brugler Marketing & Management

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