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Hog Market Down Triple Digits

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So far for Friday, lean hogs are trading triple digits in the red, with April the weakest. The October 14 CME Lean Hog Index was up another 25 cents to $78.49. USDA’s National Average Morning Base Hog price was $62.42 down $1.04. The weekly Export Sales update from USDA showed 26,803 MT of pork booked on the week ending 10/8. That was down from +60k MT LW. Shipments were a consistent 36k MT, bringing YTD exports to 1.484 MMT. 2019’s full year total was just 1.624 MMT. USDA’s National Pork Carcass Cutout value was down $2.94 to $98.48. All of the primal cuts were higher, save for a $15.17 drop in hams. USDA’s estimate for the week’s FI hog slaughter is 1.945 million head. That is 11k lower wk/wk and 14k lower yr/yr.

Dec 20 Hogs are at $68.875, down $1.000,

Feb 21 Hogs are at $70.350, down $1.075

Apr 21 Hogs are at $73.200, down $1.250

--- provided by Brugler Marketing & Management

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