Wednesday trades left lean hog futures 32 cents either side of UNCH. August closed at $52.90 on Wednesday, with 8,459 contracts still open as of Tuesday. It expires on Friday. The 08/10 CME Lean Hog index was $53.79, up by another 78 cents. USDA’s National Average Afternoon Base Hog price for Wednesday was 26 cents stronger at $37.69. 2020 pork production was forecasted 179m lbs lower to 28.36 billion lbs by USDA. USDA kept 2021 pork production at 28.57b lbs. USDA’s National Pork Carcass Cutout value was up $2.05 to $72.44. Hams were the largest mover, up $16.94 to $64.78. USDA estimated 1.396 million hogs slaughtered WTD through Wednesday. That trails the same week last year by 19k head.
--- provided by Brugler Marketing & Management