Front month lean hog futures closed with triple digit losses on the last trade day of the week. Feb contracts were down the most, closing $3.30 weaker. USDA’s National Average Base hog price was not available on Friday due to confidentiality rules. The Jan 5th Lean Hog Index from CME was down 30 cents to $73.57.
The CFTC’s Commitment of Traders data release showed managed money firms were 55,674 contracts net long in lean hogs as of 1/4/22. That was a 2,046 contract weaker net long than the week prior driven by long liquidation.
Pork cutout futures ended Friday with triple digit losses of $1.20 to $2.42. The May contract was the outlier with a 10 cent drop. USDA’s National Pork Carcass Cutout Value was $85.90, down by $3.66. USDA estimated the FI hog slaughter at 2.587m head for the week through Saturday. That trailed last year’s pace by 242k head due to holiday timing.
Feb 22 Hogs closed at $79.650, down $3.300,
Apr 22 Hogs closed at $87.350, down $1.925
Feb 22 Pork Cutout closed at $92.125, down $2.425,
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