Lean Hogs

Lean hog futures ended the Thursday session mixed, as Dec was 37.5 cents lower and back months were higher. The CME Lean Hog Index for 11/7 was down 31 cents to $68.35. The USDA pork carcass cutout value was up 65 cents in the Thursday afternoon report. The butt, rib, and ham were reported lower. The national base hog average was down 58 cents at $59.90 this afternoon. Week to date FI hog slaughter was estimated at 1,846,000 head through Thursday. That is 15,000 head larger than the previous week and 71,000 head above the same week in 2016. Pork export sales for 2017 fell sharply from last week to just 7,788 MT, a marketing year low. Mexico had a net reduction of 139 MT. Estimated pork production for the fourth quarter of 2017 was trimmed 80 million pounds in the WASDE report, with 2018 production increasing 70 million pounds from the October estimate to 26.925 billion pounds.

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