Lean hog futures saw mixed action on Friday, with nearby June down 37 cents and other contracts up 5 to 30 cents. June managed to pull out a $2.75 gain this week. USDA’s national average base hog negotiated price was reported at $88.10 on Friday afternoon down $6.69 from the previous day. The CME Lean Hog Index was up 25 cents on May 14, at $91.02.
Weekly Commitment of Traders data showed the large money managers in lean hog futures and options adding a total of 10,464 contracts to their net long position by Tuesday. As of May 13th, that net long stood at 81,086 contracts.
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The Friday afternoon FOB plant pork cutout value was back up by 40 cents, at $100.12. The loin and belly primals were reported lower. Federally inspected hog slaughter for this week was estimated at 2.409 million head by the USDA. That was down 38,000 head from the previous week and 3,357 head below the same week last year.
Jun 25 Hogs closed at $100.325, down $0.375,
Jul 25 Hogs closed at $104.175, up $0.050
Aug 25 Hogs closed at $103.625, up $0.275,
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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