Lean hog futures slipped back lower on Friday, with contracts down 20 cents to $1.05, as October was still up $1.10 this week. USDA’s national base hog report from Friday afternoon saw trade averaging $103.94, down $3.35 from the day prior. The CME Lean Hog Index was back up 11 cents on September 10 at $106.04.
The large managed money spec traders in lean hog futures and options added another 10,532 contracts to their now near record net long position of 134,423 contracts by Tuesday.
USDA’s FOB plant pork cutout report from Friday afternoon saw prices back up $1.34 at $114.51 per cwt. The picnic primal was the only reported lower. USDA estimated federally inspected hog slaughter for this week at 2.514 million head. That is 62,414 head below the same week last year.
Oct 25 Hogs closed at $97.125, down $1.050,
Dec 25 Hogs closed at $88.625, down $0.625
Feb 26 Hogs closed at $90.375, down $0.200,
