Hogs Shift Focus to Monday Trade
Lean hog futures ended last week mixed on Friday, with contracts up 60 cents to a nickel lower, as July was up $2.375 on the week. USDA’s national average base hog negotiated price was reported at $104.95 on Friday morning, down $1.00 from the day prior. The CME Lean Hog Index was up 84 cents on June 11, at $101.75.
Speculators in lean hog futures and options are regaining some bullish attitude, as their net long position was increased by 16,592 contracts as of June 10th. That took them to a net long of 118,218 contracts.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
USDA’s FOB plant pork cutout value from Friday afternoon was up $3.56 at $118.06. The butt was the only primal reported lower. Federally inspected hog slaughter for the week was estimated at 2.387 million head. That is up 32,000 from last week and 4,648 head larger than the same week last year.
Jun 25 Hogs closed at $103.700, up $0.050,
Jul 25 Hogs closed at $109.475, up $0.575
Aug 25 Hogs closed at $110.125, down $0.050,
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.
