Friday’s hog trade saw $0.20 to $1 gains, which limited the week’s slide. December hog futures were up by a net 15 cents from last Friday, though the nearby futures were still $0.80 lower. May futures closed at a $3.42 loss for the week. The National Average Base Hog price for Friday was 90 cents weaker to $66.02. The CME Lean Hog Index for 4/19 was $71.41, down by 16 cents.
Commitment of Traders data had managed money at 24,570 contracts net short lean hogs on 4/18. That was hardly changed from the prior week, with a minuscule 142 contracts lighter OI.
Friday’s pork cutout futures closed $1.05 higher, past the 42 cent bounce in May. USDA’s national Pork Carcass Cutout value for Friday was $80.43, up by $2.28. USDA estimates the week’s FI hog slaughter at 2.459m head through Saturday. That set the year’s running pace at 39.776m head, or 1.7% ahead of last year’s pace.
May 23 Hogs closed at $77.025, up $0.200,
Jun 23 Hogs closed at $86.075, up $1.000
May 23 Pork Cutout closed at $83.125, up $0.425,
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.
