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Lean Hogs Supported by Chinese Herd Shrinkage

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Lean Hog futures posted triple digits gains in the front five months on Wednesday. China’s Ag Ministry says the country’s sow herd in April was down 22.3% from last year, with the hog herd down 20.8% year over year. The CME Lean Hog Index was up 23 cents from the previous day @ $83.27 on May 13. The USDA pork carcass cutout value was $1.83 lower at $86.81 on Wednesday afternoon. The national average base hog was $81.79 on Wednesday, down 22 from the previous day. Estimated weekly FI hog slaughter was 1.381 million head for the WTD through Wednesday. That was 34,000 head below the previous week but 8,000 above the same week last year. --provided by Brugler Marketing & Management

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