Hog Market Bounced Back on Monday
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Lean hog prices closed higher after gaining back between 45 and 97 cents. USDA’s National Average Afternoon Base hog price was $67.24 down by 9 cents. CME’s Lean Hog Index was $87.59 on 10/14, down by another $1.13. 

China reported bringing in 210k MT of pork in September, which was 44.8% below Sep 2020. YTD pork imports were 4.3% ahead of last year’s pace with 3.14 MMT through September according to the Customs data. China’s Bureau of Statistics reported the countries hog herd shrank 1.4m head since June to 437.6 million head. That is still up 18.2% yr/yr, and led to a 38% boost in YTD pork production (reported at 39.17 MMT). 

Pork cutout futures were also higher out of the weekend, adding 37 to 75 cents. USDA’s National Pork Carcass Cutout Value for Monday was down by 54 cents to $100.78 cwt. CME’s Fresh Bacon Index for the week of 10/15 was a 9-week high $261.63 cwt. Monday’s FI slaughter was estimated at 478k head. That is up 1,000 head from both last week and the same week last year. 

Feb 22 Hogs  closed at $81.775, up $0.450,

Apr 22 Hogs  closed at $85.675, up $0.500

Feb 22 Pork Cutout  closed at $94.975, up $0.550,




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