Lean Hog futures posted 52.5 cent to $2.65 gains in most 2019 contracts on Wednesday, with nearby April up 37.5 cents ahead of Friday’s expiration. There was significant net new buying interest in the October futures, with preliminary open interest up 2934 contracts in that month on Wednesday. The CME Lean Hog Index was up another 21 cents from the previous day @ $78.89 on April 8. The USDA pork carcass cutout value was 83 cents higher at $83.94 per cwt in the afternoon report. The rib and loin primals were both reported lower. The national base hog carcass value was up 47 cents in the afternoon report, at an average weighted price of $75.68. Estimated FI hog slaughter was 1.426 million head through Wednesday, down 3,000 from the previous week but 62,000 above last year. ASF has now spread to South Africa, according to the country’s ag ministry. The National Pork Producers Council has cancelled their planned June World Pork Expo in Des Moines, eliminating a potential entry point for ASF into the US.
--provided by Brugler Marketing & Management