Lean hogs closed Friday with contracts down 70 cents to $2.57 at the close, as April was $4 lower on the week. The national average base hog negotiated price was reported at $90.02 on Friday afternoon by the USDA, up 53 cents from the day prior. The CME Lean Hog Index was back down 10 cents from the previous day on February 26 at $89.39.
Managed Money speculators were slashing 23,656 contracts from their net long as of 2/25, taking the net long to 90,492 contracts.
The Friday afternoon FOB plant pork cutout value from USDA was down $2.54 at $98.42 per cwt. The belly flip flop continues, back down $22.88, with the butt the only other primal reported lower. USDA reported last week’s Federally inspected hog slaughter estimated at 2.538 million head. That is 16,000 head above last week and 12,533 head above the same week last year.
Apr 25 Hogs  closed at $83.675, down $0.700,
May 25 Hogs  closed at $87.425, down $1.325
Jun 25 Hogs  closed at $95.025, down $2.575,
On the date of publication, Austin Schroeder 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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