Lean Hogs Market Converging With Index at Expiration

Lean Hog futures closed Monday mixed, with the front months slightly higher. The CME Lean Hog Index was down 52 cents at $82.33. The weekly Fresh Bacon Index was up $12.48 at $199.32 on 8/9. The USDA pork carcass cutout value was down 25 cents on Monday afternoon at $90.19. The national average base hog value was down another $1.87 in the Monday AM report at $69.00. Estimated FI hog slaughter for Monday is 466,000 head, up 39,000 head from the previous week and 1,000 head below the same week a year ago. Pork production for 2019 is projected at 27.633 billion lbs, down 15 million from the July report. Production in 2020 is expected at 28.41 billion lbs. per USDA.

---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.