Lean hog futures were mixed to close the week, with contracts down 75 cents to 67 cents higher across the board. June was $2.65 lower this week. USDA’s national base hog price was reported at $93.77 on Friday afternoon, up $3.07 from the day prior. The CME Lean Hog Index was back down 17 cents on May 6 at $91.02.
Commitment of Traders data showed a total of 6,483 cut from the managed money net long position in lean hog futures and options as of Tuesday. That took the net long to 51,082 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up $1.96 at $97.56 per cwt. The picnic primal was the only reported lower. USDA estimated federally inspected hog slaughter for the week at 2.446 million head. That is up 4,000 head from the previous week and 18,415 head above the same week last year.
May 26 Hogs closed at $90.875, down $0.625,
Jun 26 Hogs closed at $98.625, down $0.750
Jul 26 Hogs closed at $103.200, up $0.250,
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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