Hogs Look to Friday Trade
Lean hog futures pulled back on Thursday with contracts down 47 cents to $1. Preliminary open interest was down 4,496 contracts on Thursday, showing continued long liquidation. USDA’s national base hog price from Thursday morning was reported at $91.47, down $1.95 from the day prior. The CME Lean Hog Index was down another 79 cents on October 14 at $97.20.
USDA’s FOB pork carcass cutout from the Thursday PM report was up 21 cents at $102.13 per cwt. The rib and ham were reported lower. USDA estimated federally inspected hog slaughter for Thursday at 492,000 head, taking the week to date total at 1.960 million head. That is up 14,000 head from last week and 27,924 head above the same week last year.
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Dec 25 Hogs closed at $82.600, down $1.000,
Feb 26 Hogs closed at $85.100, down $0.600
Apr 26 Hogs closed at $88.850, down $0.475,
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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