Hogs Close Mixed before the WASDE Report

Lean hog futures gained 77 cents to $1.00 for the day, save for Dec futures which finished 47 cents lower. Net sales of 16,600 MT reported for the week ending 10/31 were 45 percent lower than the previous week, and 82 percent lower than the prior 4-week average. The weekly export sales report showed 33,545 MT were shipped, which was 3.2% above last week, and 32.7% above the same week last year. The updated CME Lean Hog Index dropped 20 cents, to $60.16 for 11/05. USDA’s pork carcass cutout value was 30 cents lower. The national average base hog price was was lower by 23 cents, closing at $45.21. The week to date USDA estimated Hog slaughter is 1.895 million head. The weekly hog slaughter under federal inspection for the week ending 10/26 saw 2,690,305 million head (4.97% above the same week last year) at an average dressed weight of 213 lbs.

DEC 19 Hogs closed at $64.300, down $0.475,

FEB 19 Hogs closed at $73.775, up $1.000

APR 20 Hogs closed at $80.150, up $0.775

--provided by Brugler Marketing & Management

Market Commentary provided by:

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