Hog Market Higher at Midday

Front month lean hogs are firm at midday with gains limited to 7 cents. August hogs are up by 52 cents so far. The CME Lean Hog index was $52.92 on Aug 4, which was 11 cents stronger. USDA’s National Average Morning Base Hog price for was half a buck stronger to $39.03. Pork export sales were 30,348 MT on the week ending July 30. That was down 25% wk/wk but still well more than double (+121%) yr/yr. Of the week’s sales, 19% were to China. Export shipments from the same week were 34,386 MT, with 26% destined for PRC. YTD pork exports to China are 40% of the total, which is now at a record 1.15 MMT. USDA’s National Pork Carcass Cutout value was $4.93 higher in the AM report. Bellies and hams were each more than $10 cwt. stronger. FI hog slaughter for the week through Wednesday was estimated at 1.354 million head. That is down 53,000 head from last week and 21k below the same week last year.

Aug 20 Hogs are at $49.975, up $0.525,

Oct 20 Hogs are at $49.300, unch,

Dec 20 Hogs are at $51.575, up $0.100

--- provided by Brugler Marketing & Management




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