trading on Monday due to the holiday. April futures had a net weekly gain of $4.07. USDA’s National Average Base Hog price was $2.11 firmer to $69.45 on Friday afternoon. The CME Lean Hog Index for 2/14 was $75.12, another 52 cents stronger.
The Commitment of Traders report showed lean hog spec traders were closing shorts during the week that ended 2/13. That grew the group’s net long to 33,791 contracts.
USDA’s National Pork Carcass Cutout Value was 78 cents stronger on Friday afternoon at $90.57. The ribs were up by $7. USDA reported the week’s pork output at 556 million lbs, which was 2.5% lower for the week but was up 3.2% from the same week last year. The week’s hog slaughter was listed at 2.559m head, down 2.4% from last week and up from 2.49m head during the same week last year.
April 24 Hogs closed at $85.225, up $0.225,
May 24 Hogs closed at $88.85, UNCH,
April 24 Pork Cutout closed at $91.500, up $0.075,
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