Hog Market Mixed to Mostly Higher

Lean hog May contracts were 2 cents lower at the end of Friday’s session, whereas Feb and Apr futures made gains. The 80 cent gain in the Feb futures pushed the weekly chart positive by $0.425. The CME Lean Hog Index got a 72 cent hike on 01/15 to $60.15. In the CFTC’s weekly Commitment of Traders report, managed money was 9,548 contracts net long in lean hog futures and options. That was a 353 contract strengthening wk/wk. Managed money OI was 6,117 contracts higher wk/wk. USDA’s Pork Carcass Cutout was firm Friday afternoon, only 2 cents lower at $75.47 cwt. USDA’s National Average Base Hog price was down 43 cents to $50.79. Pork bookings from the week ending 01/09 were listed at 38,671 MT. China accounted for 2,289 MT of the bookings, and China was the destination for 38.62% of the shipments. USDA estimates FI hog slaughter through Saturday to be 2.574 million head. That is 121,000 head behind last week’s total on limited Saturday slaughter.

Feb 20 Hogs closed at $67.675, up $0.800,

Apr 20 Hogs closed at $74.100, up $0.325

May 20 Hogs closed at $80.700, down $0.025

---provided by Brugler Marketing & Management

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