Lean Hogs Jun '12 (HEM12)

Lean hog futures were up 15 to 50 cents across the board on Friday.  The national average base hog price was reported at $72.05 on Friday afternoon, down $4.10 from the previous day. The CME Lean Hog Index was reported at $83.84 on October 16, down a penny from the day prior.

Pork export sales totaled 38,100 MT in the week of October 10, which was a drop of 24.8% from last week. Mexico was the lead buyer of 8,900 MT, with Japan buying 7,800 MT. Export shipments totaled 34,000 MT, a 49.2% increase from the last week. Of that total, 8,900 MT was headed to Mexico, with 7,800 MT on its way to Japan. 

CFTC showed spec funds in lean hog futures and options adding another 4,388 contracts to their net long position as of October 15 to 74,987 contracts. 

USDA’s FOB plant pork cutout value was reported at $96.59 per cwt in the Friday PM release, up 18 cents from the day prior. The loin, butt, and picnic were the primals reported lower, with the belly leading the way to the u... Read more