Lean hog futures were creeping lower into the Friday close, down 30 to 40 cents across the nearbys. The USDA national average base hog negotiated price was up 21 cents at $88.30 in the Friday PM report. The CME Lean Hog Index was steady from the previous day on March 26 at $89.13.
Weekly Commitment of Traders data from CFTC showed a total of 5,343 contracts cut back from the net long in lean hog futures and options as of March 25. That took their net long to 51,366 contracts.
Friday afternoon’s pork cutout print from USDA was up $1.72 at $96.56 per cwt. The rib was the only primal reported lower, with the belly up $4.59. USDA estimated the weekly Federally inspected hog slaughter at 2.48 million head. That was up 58,000 head from last week and 86,254 head above the same week last year.
Apr 25 Hogs closed at $86.700, down $0.325,
May 25 Hogs closed at $88.475, down $0.375
Jun 25 Hogs closed at $95.775, down $0.400,
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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