Hogs Push Higher into the Weekend
Lean hog futures posted gains of 50 to 77 cents across most contracts on Friday, with October slipping 87 cents on the week. USDA’s national base hog price was reported at $94.27 in the Friday PM report, up $1.93 from the day prior. The CME Lean Hog Index was down another 24 cents on August 19 at $93.72.
Friday’s Commitment of Traders data showed managed money adding 8,365 contracts back to their net short position in lean hog futures and options during the week of August 18. That took their net short to 23,486 contracts.
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USDA’s pork carcass cutout value was back up $1.47 in the Friday afternoon report, at $97.96. The ham was the only primal reported lower, with the butt leading the charge higher, up $6.53. USDA estimated federally inspected hog slaughter for the week at 2.366 million head. That is 32,000 head above the previous week but down 51,924 head from the same week last year.
Oct 26 Hogs closed at $80.875, up $0.650,
Dec 26 Hogs closed at $71.525, up $0.775
Feb 27 Hogs closed at $74.425, up $0.600,
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.
