Hogs Mixed on Monday

Lean Hog futures were mixed in the nearby contracts; DEC lost 47 1/2 cents while FEB contracts saw $0.20 gains. October futures expired today. The Chinese ag ministry mentioned the national hog herd was down 41% yr/yr in September, with the sow herd down 38.9% from a year ago. According to China’s Customs bureau, pork imports in September were 76% larger than in September 2018 at 166,000 MT. The CME Lean Hog Index was up an additional $0.53 to $61.18 on Oct 10. The USDA pork carcass cutout value was 42 cents higher for Monday’s close to finish at $77.94. The national average base hog value was 89 cents higher after the weekend at $57.50. Estimated FI hog slaughter for last week was revised down 30,000 head to 2.695 million. USDA estimated Monday’s slaughter at 491,000 head, up 7,000 head form last week and 30,000 from last year.

OCT 19 Hogs closed at $63.075, up $0.150,

DEC 19 Hogs closed at $69.125, down $0.475

FEB 20 Hogs closed at $77.250, up $0.200

-- provided by Brugler Marketing & Management

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