Lean Hogs Feb '20 (HEG20)
Lean Hogs Futures Market News and Commentary
Lean hog futures are down by as much as $1.37, with Dec futures posting a daily gain of 45 cents. Managed money open interest for lean hogs fell evenly on both sides, as the open interest was 3.21% lower, but the net long position shrank by 10 net contracts, to remain firm at 13,248. The 11/13 CME Lean Hog Index was 5 cents lower at $59.50. The Friday pork carcass cutout value was $1.09 higher. The Belly primal showed us it’s volatility, swinging more than $11.52 and gave back more than all of it to finish 5 cents lower on the day. The national average base hog price up 54 cents for Friday, shown at $42.73. The USDA estimated FI hog slaughter through Saturday is 2.749 million head through the week, which is 56,000 head more than last week’s total. The YTD hog slaughter is estimated at 112.762 million head as of 11/16.
DEC 19 Hogs closed at $63.200, up $0.450,
FEB 19 Hogs closed at $72.000, down $1.375
APR 20 Hogs closed at $78.975, down $1.3... Read more