Lean hog futures saw a triple digit rally on Black Friday, futures finished as much as $1.35 higher, pushing the weekly change to +80 cents. The USDA weekly export sales data for the week ending 11/21 showed 50,465 MT sold. That pushes the total commits to 1.674 MMT, which is 43.7% ahead of last year’s pace. With 6 weeks still left in the year to add to the accumulated net sales, pork commitments are already the highest they’ve ever been for a single year. The accumulated shipments according to the report are now at 1.415 MMT which is also a record. China was the destination for 3,366 MT of the sales. Of the shipments, 15,078 MT were headed to China, with an accumulated 290,919 MT on the year. The 11/26 CME Lean Hog Index was $58.60 after a 72 cent bump. The USDA pork carcass cutout value was higher on Friday morning, with a $1.97 gain up to $81.17. Primal cuts were mixed, with the biggest moves coming off of picnic (+6.78) and ribs (-8.03). USDA’s national average base hog price for 11/29 was $42.54, for a 35 cent drop. USDA estimates FI hog slaughter for the shortened week to be 2.343 million head through Saturday, which brings the YTD estimation to 117.880 million head.
DEC 19 Hogs closed at $62.025, up $1.350, |
FEB 19 Hogs closed at $68.175, up $1.025 |
APR 20 Hogs closed at $73.925, up $0.300 |
---provided by Brugler Marketing & Management