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Hogs Post Another Round of Limit Gains as Trade Tensions Ease
BRUG - Fri Sep 13, 5:03PM CDT

Lean Hog futures posted sharp gains on Friday, with Dec and Feb up the expanded limit. October was up 4.69% on the week. We will see expanded limits again on Monday. A Chinese official indicated US pork made the list of US goods that are exempt from additional tariffs of 10% that went onto effect on 9/1. The tariff is still a stiff 62% for commercial buyers. The CME Lean Hog Index was down another $1.16 at $60.69 on September 11. The USDA pork carcass cutout value FOB plant was down $2.26 on Friday afternoon at $68.21. All primal cuts were reported lower. The national average base hog value was 64 cents lower at $45.67. Estimated FI hog slaughter was 2.611 million head through Saturday, 288,000 head above the same week in 2018. Managed money was shown at net long 19,426 contracts on 9/10, down 8,707 contracts from the previous week.

OCT 19 Hogs closed at $66.475, up $3.300,

DEC 19 Hogs closed at $68.700, up $4.500

FEB 20 Hogs closed at $75.100, up $4.500

-- provided by Brugler Marketing & Management

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