Lean hog futures added another triple digits to the rally on Friday. Feb futures closed 57 cents in the black, and $13 under April. April ended the day with a $1.70 gain for the first +$100 close. From Friday to Friday, April hogs were 5.43% higher. USDA’s National Average Afternoon Base hog price for Friday was $3.62 lower to $83.87. The CME Lean Hog Index from 2/2 was another $0.04 higher to $83.33.
CFTC data from the 2/1 settle showed managed money firms were 3,061 contracts more net long on net new buying interest through the week that ended 2/1. That left the funds 69,968 contracts net long.
Pork cutout futures went into the weekend with $0.72 to $1.47 gains. USDA’s National Pork Carcass Cutout Value for Friday afternoon was 20 cents higher to $97.41. USDA estimates FI hog slaughter at 2.436m head for the week through Saturday and 12.317m head for the year. That compares to 2.673 million and 13.851m last year respectively.
Feb 22 Hogs closed at $87.025, up $0.575,
Apr 22 Hogs closed at $100.075, up $1.700
Feb 22 Pork Cutout closed at $96.700, up $0.625,
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