Hogs Dropping on Tuesday

After the MLK day break, lean hog futures are trading 52 cents to $1.07 in the red. Cutout futures are also lower at midday with prices down 60 to 90 cents. The Fresh Bacon Index from CME was up another $11 to a 12 week high of $164.94 cwt. The CME Lean Hog Index was back up by 3 cents on 1/15 to 65.56. USDA’s National Average Base Hog price was down another $0.56 in the Am quote, to $54.97. China announced the state will auction 30k MT of frozen pork on Jan 21. The National Pork Carcass Cutout value was $0.07 stronger this morning, at $78.59. USDA’s estimate for last week’s hog slaughter was 2.654 million head including Saturday. That was down from the 2.849m record the week prior, but up 158,000 head yr/yr. YTD slaughter is estimated at 5.829m head.  

Feb 21 Hogs are at $67.075, down $0.850,
Apr 21 Hogs are at $72.000, down $0.650
May 21 Hogs are at $77.075, down $0.525
Feb 21 Pork Cutout is at $78.025, down $0.825,

--- provided by Brugler Marketing & Management




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