Friday hog trading pushed futures $1.80 to $2.45 lower, save for a 90 cent fall in Dec. From Friday to Friday, Dec hogs were UNCH at $64.90. CME’s Pork Cutout Futures were down triple digits as well with $1.45 to $1.52 losses. USDA’s National Pork Carcass Cutout value was $80.14 in the PM report, down by $2.94. Picnic primals were $3.84 stronger, but offset by large reductions in the other cuts. USDA’s Export Sales report showed a steady 42,519 MT of pork for 2020 booked on the week ending 11/5. China was the top purchaser with 50% of the total. USDA also reported about 16,100 MT sold for 2021 shipment. Weekly data suggests that the 2020 pork export program is a new all time record, as the 38,126 MT pushed YTD shipments above 2019’s full year total. With still 8 weeks of business to report, accumulated exports sit at 1.634 MMT so far. The CME Lean Hog Index for the 11th was 5 cents weaker at $71.32. USDA’s National Average Base Hog price was back down by 33 cents lower again to $59.59. USDA estimates the week’s FI hog slaughter through Saturday at 2.688 million head. That is down 25k wk/wk and 73k from year to year. YTD slaughter remains 0.9% ahead of 2019’s pace with 113.739 million head.
| Dec 20 Hogs closed at $64.900, down $0.900, |
| Feb 21 Hogs closed at $64.575, down $2.150 |
| Apr 21 Hogs closed at $68.025, down $2.325 |
| Dec 20 Pork Cutoutclosed at $79.800, down $1.825, |
— provided by Brugler Marketing & Management
