Lean hog futures posted losses of 15 cents to $1.425 on Friday. The national average base hog price was down $2.31 at $83.00 on Friday PM. The CME Lean Hog Index was $90.20 on August 14, up 2 cents from the previous day.
Specs in lean hog futures and options flipped back to a net short position by August 13 by 12,370 contracts to a net short of 2,269 contracts.
USDA’s FOB plant pork cutout value was back $1.20 in the Friday afternoon report at $98.67 per cwt. The picnic and rib primals were the only reported higher, with the butt leading the way lower, down $3.84. USDA estimated last week’s FI hog slaughter at 2.512 million head. That is 129,000 head above the previous week and 81,459 head larger than the same week last year.
Oct 24 Hogs closed at $75.075, down $1.425,
Dec 24 Hogs closed at $67.225, down $1.000
Feb 25 Hogs closed at $70.975, down $0.775,
On the date of publication, Alan Brugler 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
