Lean Hogs

Lean hog futures are trading 20 to 52.5 cents higher on Friday. The CME Lean Hog Index was up $1.18 on January 10 at $68.46. The USDA pork carcass cutout value was up $1.16 cents at $80.20 in the Friday morning report. The loin was the only primal lower. The national base hog weighted average price was down 3 cents to $69.87. The USDA week to date FI hog slaughter was estimated at 1,815,000 head through Thursday. Reports are showing that Mexico is threatening to pull out of NAFTA if President Trump starts the withdraw process. Pork production for 2017 was totaled at 25.585 billion pounds in this morning’s USDA supply and demand table. That was moved by a 25 million pound increase in the fourth quarter. Production for 2018 is projected at 26.960 billion pounds, up 45 million pounds from the previous report.

Feb 18 Hogs are at $71.175, up $0.200,

Apr 18 Hogs are at $74.150, up $0.325

May 18 Hogs are at $79.225, up $0.525