Lean hog futures saw strength on Friday, up a tick to 65 cents. August was up $1.80 on the week. Preliminary open interest was dropping 6,605 contracts on Friday. USDA’s national base hog price had a weighted average of $105.55 on Friday afternoon, down $5.15 from Thursday. The CME Lean Hog Index was up 43 cents at $107.63 on July 16.
Speculators in lean hog futures and options cut 17,186 contracts from their net long position in the week o July 17 to 114,593 contracts.
USDA’s FOB plant pork cutout value for Friday afternoon was $1.47 higher at $117.79 per cwt. All primals were reported higher, with the ham leading the way up $3.45 USDA estimated hog slaughter at 2.342 million head for the week. That was 11,000 head below last week and 31,523 head lower than the same week last year.
Aug 25 Hogs closed at $106.475, up $0.650,
Oct 25 Hogs closed at $90.625, up $0.025
Dec 25 Hogs closed at $82.800, up $0.475,
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.
