Lean hog futures closed mixed on Friday, with contracts 62 cents higher to 72 cents lower. June was down $3 this week. USDA’s national base hog price was $93.23 in the Friday PM report, down 35 cents from the day prior. The CME Lean Hog Index was up 45 cents on May 20 at $91.07. The CME will be closed on Monday for Memorial Day.
CFTC data showed managed money cutting back another 7,147 contracts from their net long position in the week ending on 5/19 to 33,713 contracts.
Pork stocks were tallied at 435.79 million lbs at the end of April according to Cold Storage data. That was down 4.47% from last year, but an 8.7% increase from the end of March.
USDA’s pork carcass cutout value from the Friday afternoon report was up 62 cents at $96.26 per cwt. The picnic and butt primals were the only reported lower. USDA estimated federally inspected hog slaughter for the week at 2.321 million head. That is down 38,000 head from the previous week and 35,490 head below the same week last year.
Jun 26 Hogs closed at $95.750, up $0.625,
Jul 26 Hogs closed at $100.400, up $0.375
Aug 26 Hogs closed at $100.075, down $0.150,
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.
