Lean hog futures posted front month losses of 15 to 90 cents on Friday, as April was down $2.17 this week. Open interest was down 2,616 contracts on Friday. USDA’s national base hog price was reported at $91.82 on Friday afternoon, up 43 cents from the day prior. The CME Lean Hog Index was another 24 cents higher on March 11 at $91.44.
Managed money added 3,668 contracts to their net long in lean hog futures and options as of March 10, taking the net long to 127,704 contracts.
USDA’s pork carcass cutout value from the Friday PM report was down a dime at $100.19 per cwt. The rib and belly primals were the only reported lower. USDA estimated the weekly federally inspected hog slaughter at 2.532 million head. That is 44,000 head above last week and 31,000 head above the same week last year.
Apr 26 Hogs closed at $93.450, down $0.900,
May 26 Hogs closed at $98.400, down $0.750
Jun 26 Hogs closed at $107.375, down $0.800,
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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