Lean Hogs Puzzled By Pork Weakness Against Rising Beef

Lean Hog futures lost $1.67 to $3.00 on Friday. The CME Lean Hog Index was down $1.97 at $77.89 on August 14. China’s hog herd in July was down 32% from July 2018 according to official sources. The USDA pork carcass cutout value was down $1.97 on Friday’s close to $86.26. The national average base hog value was .49 cents lower in the Friday morning report at $69.65. CFTC data showed spec funds in lean hog futures and options trimmed their long position by 6928 contracts to 34, 050 as of Tuesday. Estimated week to date FI hog slaughter was 2.457 million head, a 143,000 head increase from the previous week and 38,000 head more the same week a year ago.

--- provided by Brugler Marketing & Management

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