Lean hog futures posted mostly higher trad on Friday, with contracts up 25 cents to $1.37 at the close. August was up $2.65 this week. USDA’s national base hog price was reported at $99.32 Friday afternoon, down 94 cents from the day prior. The CME Lean Hog Index was 50 cents higher on July 15 at $95.10.
The weekly CFTC Commitment of Traders report showed managed money adding another 1,436 contracts to their near net short position in the week of July 14. That took the net short to 30,438 contracts.
USDA’s pork carcass cutout value was $1.99 higher in the Friday afternoon report, at $104.41. The rib and ham were the only primals reported lower. USDA estimated federally inspected hog slaughter for this week at 2.31 million head including Saturday. That is 54,000 head below the week prior and 23,497 head shy of the same week last year.
Aug 26 Hogs closed at $101.650, up $1.375,
Oct 26 Hogs closed at $87.950, up $1.025
Dec 26 Hogs closed at $78.775, up $0.825,
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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