Hogs Fall Lower into the Weekend
Lean hog futures posted Friday losses of 30 cents to $2.80, led by July, as June was down $1.55 this week. USDA’s national base hog price was reported at $93.85 on Friday PM, down $1.81 from the day prior. The CME Lean Hog Index was up 26 cents on June 3 at $92.51.
The weekly Commitment of Traders report from CFTC showed managed money in lean hog futures and options at their first net short position in nearly two years of 6,551 contracts, a flip of 19,536 contracts to the short side on that week.
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USDA’s pork carcass cutout value from the Friday morning report was $3.05 at $101.18 per cwt. The belly was the only primal reported lower. USDA estimated federally inspected hog slaughter for this week at 2.428 million head. That is up 75,193 head from the same week last year.
Jun 26 Hogs closed at $94.300, down $1.000,
Jul 26 Hogs closed at $98.800, down $2.800
Aug 26 Hogs closed at $97.225, down $2.050,
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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