Lean Hog Futures Make a triple Digit Rally

Lean hog futures follow up Thanksgiving Holiday with triple digit rally on Black Friday, futures are as much as $1.87 higher at midday. The USDA released their weekly export sales data to reveal that for the week ending 11/21 there were 50,465 MT sold. That comes as a 44.4% decrease over last week, but pushes the total commits to 1.674 MMT, which is 43.7% ahead of last year’s pace. With 6 weeks still left in the year to add to the accumulated net sales, pork commitments are already the highest they’ve ever been for a single year. The accumulated shipments according to the report are now at1.415 MMT which is also a record on the data available with still more weeks to add to it as well. The 11/25 CME Lean Hog Index was $57.88 after a 30 cent decrease. The USDA pork carcass cutout value was again lower, at $79.80 following a $2.28 drop. The pork belly primals were marked at $94.87, after a $14.57 per hundredweight drop. USDA’s national average base hog price for 11/27 was $42.80, for a 35 cent gain. USDA estimates FI hog slaughter for the shortened week to be 1.465 million head through Wednesday.

DEC 19 Hogs are at $62.175, up $1.500,

FEB 19 Hogs are at $69.025, up $1.875

APR 20 Hogs are at $75.275, up $1.650

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.