Hog futures put up some triple digit gains on Friday, settling $1.15 to $2.97 per cwt higher. Front month October posted the largest advance. USDA’s National Average Base Hog price is $93.52, up $.51 from the previous day. The CME Lean Hog Index for August 16 was down another 71 cents to $100.32.
The Commitment of Traders report showed managed money spec funds net long 22,961 contracts of futures and options as of August 15. That was down 10,865 contracts from the previous week.
Pork cutout futures were up $2.52 to $2.75 on Friday. Volume continues to be minimal, with 28 trades in the October contract. The National Pork Carcass Cutout Value was down $1.62 on Friday to $106.17. From Friday to Friday it dropped $3.91 or 3.6%. Estimated weekly FI hog slaughter including Saturday is 2.414 million head, up 60,000 from last week and down 7,000 from year ago.
Oct 23 Hogs closed at $82.125, up $2.975,
Dec 23 Hogs closed at $74.500, up $2.500
Oct 23 Pork Cutout closed at $93.475, up $2.750,
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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