Lean Hogs

Lean hog futures are up 70 to 80 cents, excluding the expiring July futures which need to stick close to where they think the index will be. The CME Lean Hog Index for 7/13 was 6 cents lower than the previous day at $92.78. The USDA pork carcass cutout value was 80 cents higher in the Monday morning report, with a weighted average of $105.28. The loin and picnic primals were sharply lower, as bellies were $8.37 higher at $213.43. The national base hog carcass price was 78 cents lower with a weighted average of $85.61 in this morning's report. Weekly FI hog slaughter was estimated at 2,202,000 head, 81,000 more than the same week in 2016. Spec traders added to their net long position in lean hogs futures and options for the 11thweek in a row to 84,189 contracts as of Tuesday July 11.

Jul 17 Hogs are at $92.425, down $0.175,

Aug 17 Hogs are at $80.750, up $0.850

Oct 17 Hogs are at $67.875, up $0.700

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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