Lean hog futures settled mostly higher on Friday, up by 17 to 42 cents in the October through April contracts. Nearby August is constrained by the delivery month and settled 22 cents lower. The USDA National Base Hog price was reported at $83.53 in the Friday PM print, down $1.34 from the previous day. The CME Lean Hog Index was $92.80 on August 7, down 30 cents from the previous day.
The CFTC Commitment of Traders report showed managed money spec funds net long 10,101 hog futures and options contracts on August 6, an increase of 3,957 contracts vs. the previous week.
USDA’s FOB plant pork cutout value was up $0.43 in the Friday afternoon report, at $98.66 per cwt. The loin and pork butt primals were lower, while hams were the strongest component of the day. USDA estimated the Friday FI hog slaughter at 445,000 head, with last week at 2.372 million head including a Saturday estimate of 84,000. That is down 83,000 head from last week and just 4,000 head above the same week a year ago.
Aug 24 Hogs closed at $89.800, down $0.225,
Oct 24 Hogs closed at $73.975, up $0.350
Dec 24 Hogs closed at $66.300, up $0.425,
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