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Hogs Close in Red on Friday

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Lean hog futures head into the weekend following Friday losses of 7 to 87 cents. Despite the Friday giveback, Dec hogs were still up nearly 4% on the week. The October 14 CME Lean Hog Index was up another 25 cents to $78.49. USDA’s National Average Afternoon Base Hog price was $62.13 down $1.33. CFTC data showed lean hog speculative traders were 37,154 contracts net long on 10/13. That was a 1,408 contract stronger net long wk/wk with a 2,214 lower open interest. Collectively lean hog OI was 184,531 contracts, which was just 13 contracts lighter on the week. The weekly Export Sales update from USDA showed 26,803 MT of pork booked on the week ending 10/8. That was down 56% from last week. 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 $2.23 to $99.19. USDA estimated the week’s FI hog slaughter at 2.688 million head through Saturday. That was 42k lower wk/wk and 35k lower yr/yr.

Dec 20 Hogs closed at $69.800, down $0.075,

Feb 21 Hogs closed at $70.950, down $0.475

Apr 21 Hogs closed at $73.650, down $0.800

--- provided by Brugler Marketing & Management

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