Hogs Close Higher

Lean hog futures were 47 to 70 cents higher at the closing bell on Monday. For May, that took out Friday’s high and $81.225 is the new life of contract high. April also closed at prices not seen since November 2019 for the contract. The 1/21 CME Lean Hog Index was up 15 cents to $65.55. Pork cutout futures closed with triple digit gains of 85 cents to $1.05. USDA’s National Average Base Hog price was back down by 16 cents in the PM update at $55.30. USDA reported pork stocks continued to decline through December reaching the lowest for any month since August 2010. The 408m lbs reported in the monthly Cold Storage report was down 20% from November and was 30% below December 2019. Belly stocks, on the other hand, increased 7.5m lbs in December to 30.7 million. Bellies in cold storage were still 34% below December 2019. The National Pork Carcass Cutout value was quoted at $82.13 in the PM report, 70 cents lower. USDA’s Monday estimate for FI hog slaughter is 486,000 head.

Feb 21 Hogs closed at $70.625, up $0.700,
Apr 21 Hogs closed at $76.625, up $0.475
May 21 Hogs closed at $81.225, up $0.700
Feb 21 Pork Cutout closed at $82.875, up $1.050,

--- provided by Brugler Marketing & Management




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