Hogs Gaining Triple Digits

Midday lean hog futures prices are up $1.15 to $1.85 so far. Pork cutouts are $1.60 to $2.15 in the black. The 1/19 CME Lean Hog Index was 25 cents lower to $65.67. USDA’s National Average Base Hog price was up 87 cents to $55.56. USDA reported 45,172 MT of pork booked on the week ending 1/14. That was the largest weekly export sale since the week ending 10/1. Mexico and China were the top purchasers on the week. Mexico and China were also the top destinations for the 40,771 MT shipped. The National Pork Carcass Cutout value was quoted at $83.90 in the AM report. That was $3.64 higher. USDA estimated WTD hog slaughter under federal inspection at 1.921 million head. That is 32,000 head higher on the year, but down 57,000 head wk/wk. A new outbreak of ASF was confirmed by China’s Ministry of Ag and Rural Affairs. The outbreak was in Guangdong on a 1,015 head farm, with 214 hogs killed. There are also reports on the wire suggesting an illicit ASF vaccine has led to a new strain of African Swine Fever, according to the source 1,000+ sows were infected across several farms operated by New Hope Liuhe.

Feb 21 Hogs are at $69.400, up $1.300,
Apr 21 Hogs are at $75.750, up $1.850
May 21 Hogs are at $79.975, up $1.500
Feb 21 Pork Cutout is at $81.025, up $2.150,

--- provided by Brugler Marketing & Management

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