Lean hog futures ended the Friday session with 25 to 85 cent gains, pushing the October contract to a weekly gain of $3.2 (4%). The USDA National Average Base Hog price for Friday was $4.25 weaker to $90.86. The 9/14 CME Lean Hog Index bounced by 19 cents to $97.77.
CFTC data released after the close had managed money hog traders closing more shorts than longs during the week that ended 9/13. That left the group 5,999 contracts more net long to 51,497.
Pork cutout futures closed with 5 to 57 cent gains on Friday. USDA’s National Pork Carcass Cutout value was $106.39 after a 54 cent increase. USDA estimated the Week’s FI hog slaughter at 2.465m head through Saturday. That compares to 2.243m head last week with Labor Day and 2.545m head during the same week last year.
Oct 22 Hogs closed at $96.900, up $0.850,
Dec 22 Hogs closed at $87.975, up $0.325
Oct 22 Pork Cutout closed at $105.050, up $0.575,
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