Lean Hogs
BRUG - Mon Aug 21, 7:27AM CDT
Lean hog futures ended the week with most front months a quarter to 80 cents lower and back months higher. Nearby Oct was down 3.64% since last Friday. The CME Lean Hog Index for 8/16 was 33 cents lower than the previous day at $83.70. The USDA pork carcass cutout value was $1.83 lower in the Friday afternoon report, with a weighted average of $90.14. The loin and picnic were slightly lower, with the rib down $8.90 and belly $10.98 lower. The national base hog carcass was down $2.06 at $73.34 in the PM report. FI hog slaughter is estimated at 2,332,000 through Saturday, 60,000 head larger than the previous week and up 37,000 from the same week in 2016.Argentina agreed to open their boarders to US pork for the first time in 25 years, with initial estimates a cautious $10 million per year. Spec traders added another 5,663 contracts to their net long position in lean hog futures and options as of Tuesday, to +81,149 contracts.



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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


 

Did June and July leave you with painful grain marketing memories?
Contact Brugler TODAY to discover which of our services is the right prescription for you!
Request product samples and a quick tour of our services here.

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.