Lean hog futures posted slight Thursday gains, with contracts up 7 to 25 cents, as June was up $4.70 last week. USDA’s national average base hog negotiated price was reported at $83.35 on Friday afternoon at $83.35. The CME Lean Hog Index was down another 28 cents from the previous day at $85.09 on April 15.
Friday’s Commitment of Traders data showed specs adding back 3,960 contracts to their net long position as of 4/15 to a net position of 40,222 contracts.
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The Friday afternoon pork cutout report from USDA was $4.22 higher, at $97. The rib was the only primal reported lower, with the belly leading the charge to the upside, up $14.44.28. USDA’s federally inspected hog slaughter was estimated at 2.38 million head last week. That was down 104,000 head from last week and 100,603 head below the same week last year.
May 25 Hogs closed at $90.400, up $0.250,
Jun 25 Hogs closed at $98.025, up $0.075
Jul 25 Hogs closed at $98.100, up $0.200,
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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