Lean hog futures closed Friday with most contracts down 50 to 75 cents, as expiring February was up 20 cents. April fell $6.67 this week. USDA’s national base hog price was reported at $85.22 on Friday afternoon, down $1.73 from the day prior. The CME Lean Hog Index was 37 cents higher on Feb 11 at $86.89. The markets will be closed on Monday for President’s Day.
CFTC data as of Tuesday pegged managed money net long 133,281 contracts, a 4,424 contract increase in the week.
USDA’s pork carcass cutout value from the Friday PM report was 49 cents lower at $95.16 per cwt. The ham was the only primal reported higher. USDA estimated federally inspected hog slaughter for this week at 2.497 million head. That was 88,000 head below last week and 24,237 head shy of the same week last year.
Feb 26 Hogs closed at $86.950, up $0.200,
Apr 26 Hogs closed at $91.275, down $0.550
May 26 Hogs closed at $95.300, down $0.750,
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