Hog Look to Round Out Week of Losses
Lean hog futures ended Thursday with contracts down $1.75 to $2.02, as soon to expire February was down 15 cents. Feb expires on Friday. Longs continue to exit, with open interest dropping 6,666 contracts. USDA’s national base hog price was reported at $86.95 on Thursday afternoon, down $1.22 from the day prior. The CME Lean Hog Index was 20 cents higher on Feb 6 at $86.52.
Export Sales data showed a total of 28,643 MT of pork sold in the week ending on 2/5. Mexico was the top buyer of 12,000 MT, with 7,100 MT sold to Japan. Shipments were tallied at 36,991 MT.
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USDA’s pork carcass cutout value from the Thursday PM report was $1.88 higher at $95.65 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter for Thursday at 456,000 head, with the week to date total at 1.922 million head. That was 25,000 head above last week but 27,013 head below the same week last year.
Feb 26 Hogs closed at $86.750, down $0.150,
Apr 26 Hogs closed at $91.825, down $2.025
May 26 Hogs closed at $96.050, down $1.975,
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.
