Hogs Close with Gains to Round Out the Week
Lean hog futures were up 25 to 82 cents across most contracts on Friday, with expiring June up 25 cents. July was down $1.35 this week. USDA’s national base hog price was reported at $95.27 on Friday afternoon, down $1.99 from the day prior. The CME Lean Hog Index was down 2 cents on June 10 at $92.90.
Friday afternoon’s Commitment of Traders report indicated a total of 7,150 contracts added to the new managed money net short in lean hogs in the week of 6/9. That net short was 13,701 contracts on Tuesday.
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USDA’s pork carcass cutout value from the Friday PM report was back up $2.92 at $97.39 per cwt. The belly and ham primals were the only reported lower, with the butt up $12.90. USDA estimated federally inspected hog slaughter for this week at 2.402 million head. That is down 20,000 head from last week and 31,146 head above the same week last year.
Jun 26 Hogs closed at $92.525, down $0.250,
Jul 26 Hogs closed at $97.450, up $0.825
Aug 26 Hogs closed at $96.350, up $0.450,
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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