Lean hog futures are lower for Veterans Day, down as much as 80 cents in the nearby contracts. Managed money spec funds were net long 13,258 contracts as of 11/5, a 4.2% reduction from last week. The 11/06 CME Lean Hog Index regained $0.03 to $60.19. The WASDE report updated 4th quarter pork production estimates to 7.46 billion lbs to bring the 2019 production to a record 27.620 billion lbs. The USDA is closed for Veteran’s Day, the pork carcass cutout value and the national average base hog price will not be reported until tomorrow. The USDA estimated FI hog slaughter was 2.693 million head through last week.

--provided by Brugler Marketing & Management