Hogs Mostly Higher on Continued Decline in China’s Herd

Lean Hog futures settled Monday with most contracts 20 to 50 cents higher, with June down 20 cents. The Chinese hog herd was down 18.8% yr/yr at the end of March according to the country’s ag ministry. In addition, their sow herd is down 21% in the same time period. The CME Lean Hog Index was down 2 cents from the previous day @ $79.34 on April 11. The USDA pork carcass cutout value was $1.33 higher at $87.04 per cwt in the afternoon report. The loin and picnic primals were reported lower, with the volatile belly up $7.39. The national base hog carcass value was up 13 cents in the PM report, at an average weighted price of $76.38. Estimated FI hog slaughter was 436,000 head for Monday, down 39,000 from the previous week and 25,000 below last year.

May 19 Hogs closed at $90.075, up $0.475,

Jun 19 Hogs closed at $98.300, down $0.200

Jul 19 Hogs closed at $101.550, up $0.200

--provided by Brugler Marketing & Management

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