Hogs Post Another Round of Limit Gains as Trade Tensions Ease

Lean Hog futures posted sharp gains on Friday, with Dec and Feb up the expanded limit. October was up 4.69% on the week. We will see expanded limits again on Monday. A Chinese official indicated US pork made the list of US goods that are exempt from additional tariffs of 10% that went onto effect on 9/1. The tariff is still a stiff 62% for commercial buyers. The CME Lean Hog Index was down another $1.16 at $60.69 on September 11. The USDA pork carcass cutout value FOB plant was down $2.26 on Friday afternoon at $68.21. All primal cuts were reported lower. The national average base hog value was 64 cents lower at $45.67. Estimated FI hog slaughter was 2.611 million head through Saturday, 288,000 head above the same week in 2018. Managed money was shown at net long 19,426 contracts on 9/10, down 8,707 contracts from the previous week.

OCT 19 Hogs closed at $66.475, up $3.300,

DEC 19 Hogs closed at $68.700, up $4.500

FEB 20 Hogs closed at $75.100, up $4.500

-- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.