Lean hog futures were $1.07 to $2.07 higher in the nearby contracts on Monday. December Pork Cutout futures were up $1.55. The CME Lean Hog Index for Nov 19 was down another 63 cents at $68.14. The CME Fresh Bacon index was down $14.28 to $126.49 as of 11/20. USDA’s National Average Base Hog price was down 50 cents at $58.33 in the PM report. USDA’s National Pork Carcass Cutout value was down 40 cents. The ham saw a $5.62 drop as wholesale buying ahead of Thanksgiving slows. The monthly Cold Storage report found Oct 31 pork stocks were 448.157 million lbs. That is the lowest for any month since Aug 2011 and down 26.76% from year ago. Multiple primal cuts saw multi-year supply lows for October. USDA FI hog slaughter for Monday was 497,000 head, 20,000 more than last week and 4,000 larger than the same week in 2019.
--- provided by Brugler Marketing & Management
