Hog futures went into the weekend mixed on Friday, with Feb and April giving back $1.15 and $0.55 respectively. The back months continued their bounce, with gains of 7 to 87 cents on the day. Feb closed out the week at a $1.95 loss and saw the lowest print since October of 2021. April hogs were a net 72 cents higher from Friday to Friday. USDA’s National Average Afternoon Base Hog price was $70.63 on Friday, down by 30 cents. The 1/25 CME Lean Hog Index was $72.52 after another 20 cent boost. Â
Weekly CFTC data confirmed managed money had flipped net short in lean hogs as of 1/24, for the first time since December of 2019. That was fueled by 14,760 new spec shorts added through the week.Â
Front month pork cutout futures were also mixed at the close as Feb ended down by 70 cents but May was $1.17 stronger. USDA’s National Pork Carcass Cutout value was $1.21 weaker in the PM report, at $79.25. USDA estimated the week’s FI hog slaughter as 2.536m head through Saturday. That compares to 2.531 million last week and 2.530 million during the same week last year. Â
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Feb 23 Hogs  closed at $75.875, down $1.150,
Apr 23 Hogs  closed at $86.450, down $0.550
Feb 23 Pork Cutout  closed at $83.675, down $0.700,
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. For more information please view the Barchart Disclosure Policy here.
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