Lean hog futures ended the Friday round with 32 to 97 cent gains to fade the triple digit losses from Thursday. The USDA National Average Base Hog Price was $90.54 in the PM update, down by $1.15. The wtd av ECB quote was $92.62, with $92.03 in the WCB. The 10/26 CME Lean Hog was $94.15 after a 32 cent drop. Â
The weekly Commitment of Traders data had lean hog specs closing 10k shorts and adding 9.5k new longs. The resulting 19.6k contract net long increase was the most for a single week since record keeping began in ’06. The group was 55.4k contracts net long as of 10/25.Â
Pork cutout futures went into the weekend on 32 to 57 cent gains. The USDA Pork Cutout Value for Friday afternoon was $2.88 higher to $101.34, led by an $19.72 increase in the bellies. USDA estimated the week’s hog slaughter at 2.557m head through Saturday. That is up 5k head from the same week last year, though the YTD pace trails last year by 3.117m head.Â
Dec 22 Hogs  closed at $86.100, up $0.975,
Feb 23 Hogs  closed at $88.850, up $0.700
Dec 22 Pork Cutout  closed at $96.125, up $0.350,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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