Lean hog futures closed out the Friday session with contracts mixed, as August was down 12 cents, with other contracts up a tick to 25 cents. October was 62 cents higher on the week. USDA’s national base hog price was reported at $106.73 on Friday afternoon down $4.49 from the day prior. The CME Lean Hog Index was up 50 cents at $110.10 on August 6.
Large managed money speculators were adding back to their net long position in lean hog futures and options by 1,700 contracts in the week ending on August 5. That took their net long position to 109,286 contracts by Tuesday.
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USDA’s FOB plant pork cutout report from Friday PM was up $1.08 at $117.41 per cwt. The ham was reported weaker, with the rest higher. USDA estimated hog slaughter at 2.35 million head. That was 14,000 head above last week but down 29,420 head from the same week last year.
Aug 25 Hogs are at $108.900, up $0.125,
Oct 25 Hogs are at $90.675, down $0.250
Dec 25 Hogs is at $83.775, down $0.025,
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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