Lean Hogs Still Seeking Export News

Lean Hog futures were $1 to $1.25 lower in the nearby contracts on Thursday. The CME Lean Hog Index was down 59 cents at $77.40 on August 20. The USDA pork carcass cutout value is down $1.30 on Thursday afternoon at $79.94. The national average base hog value was down $1.39 in the Thursday PM report at $66.15. Estimated weekly FI hog slaughter through Thursday was 1.444 million head, a 27,000 head increase from the previous week and 60,000 head more than the same week a year ago. USDA showed pork export sales of 18,491 MT in the week of August 15. Shipments were at 24,440 MT, with 7,100 MT off to Mexico and 6,900 MT shipped to China. Pork in Cold Storage at the end of July dropped to 601,790 million pounds. A drop is typical for July, and puts the inventory level similar to 2016. --- provided by Brugler Marketing & Management

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