Turnaround Tuesday Sparking Hog Rally
BRUG - Tue Dec 03, 4:56PM CST

Lean hog futures more than regained yesterday’s drops, with nearby contracts gaining $1.70 to $2.22 after turnaround Tuesday action. The 11/29 CME Lean Hog Index was $57.35 after dropping a full dollar. The USDA pork carcass cutout value was $80.61 after a $2.25 reduction, the belly was $9.99 lower. USDA’s national average base hog price for 12/03 has started to regain previous drops, it moved triple digits $44.80. A Chinese Ag Ministry official claimed that “Pork inventories are relatively ample for the 4th quarter”. Emphasis on relatively! Official export data from Brazil showed pork shipments for the month of November were 57,600 MT. That is 7.84% lower mo/mo, but 12.94% above November of ’18. USDA estimated FI hog slaughter for Tuesday at 495,000 head, just shy of yesterday’s record, and pushing the weekly total to 992,000 head.

Dec 19 Hogs closed at $62.500, up $2.150,

Feb 20 Hogs closed at $68.375, up $2.225

Apr 20 Hogs closed at $74.275, up $1.700

---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.