Lean hog futures closed out the Friday session with contracts to 92 cents in the green. The national average base hog price was reported at $80.76 on Friday afternoon, down $2.60 on the day. The CME Lean Hog Index was $88.83 on August 21, down 38 cents from the previous day.
Pork stocks totaled 450.7 million lbs at the end of July, which was a 5.09% drop from the end of June and 4.26% below last year.
Commitment of Trades data showed spec funds flipping back to a net long position of 7,315 contracts as of the week that ended on August 20, a 9,584 contract move on the week.
USDA’s FOB plant pork cutout value was up $2.62 the Friday PM report at $99.05 per cwt. The rib primal was the only reported lower, with the ham leading the way to the upside, $5.39higher. USDA estimated the weekly FI hog slaughter at 2.503 million head. That is 9,000 head below the previous week and 8,665 head larger than the same week last year.
Oct 24 Hogs closed at $80.550, up $0.925,
Dec 24 Hogs closed at $70.750, up $0.475
Feb 25 Hogs closed at $73.825, up $0.475,
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