Lean hog futures were 90 cents to $1.27 higher to close Friday, with October up $1.02 on the week, led by the Friday strength. USDA’s national base hog price was at $89.57 in the Friday PM report, down 19 cents from the day prior. The CME Lean Hog Index was down another 28 cents on August 26 at $92.14.
Friday’s Commitment of Traders data showed managed money adding 7,649 contracts back to their now record net short position in lean hog futures and options during the week of August 25. That took their net short to 31,135 contracts.
USDA’s pork carcass cutout value was back up $2.26 in the Friday afternoon report, at $96.06. All primals were reported higher, led by a $6.30 gain in the belly. USDA estimated federally inspected hog slaughter for this week at 2.377 million head including Saturday. That is 11,000 head above the previous week and down 9,985 head from the same week last year.
Oct 26 Hogs closed at $81.900, up $1.275,
Dec 26 Hogs closed at $72.300, up $1.100
Feb 27 Hogs closed at $74.975, up $1.125,
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.
/AI%20(artificial%20intelligence)/Ai%20chip%20by%20Quality%20Stock%20Arts%20via%20Shutterstock.jpg)
/A%20close-up%20of%20the%20Broadcom%20logo%20on%20a%20smartphone%20by%20Timon%20via%20Adobe%20Stock.jpeg)
