Lean hog futures closed the Friday session with nearby contracts up $1.07 to $1.27, as October was up $1.10 this week. USDA’s national base hog price was reported at $107.66 in the Friday PM report, down 69 cents from the day prior. The CME Lean Hog Index was down 25 cents at $108.32 on August 20.
USDA’s monthly Cold Storage report showed a total of 404.583 million lb of pork stocks as of July 31. That was a drop of 10.76% from last year and 3.37% below June.
CFTC data showed a total of 4,964 contracts cut from the net long position in lean hog futures and options as of August 19, taking it to 105,768 contracts.
USDA’s FOB plant pork cutout report from Friday afternoon was up 36 cents at $112.96 per cwt. The loin, butt, and ham were the primals reported lower, with the picnic ($11.29) leading the charge higher. USDA estimated hog slaughter for this week at 2.419 million head. That was 11,000 head above last week and down 88,446 head from the same week last year.
Oct 25 Hogs closed at $91.200, up $1.275,
Dec 25 Hogs closed at $84.375, up $1.275
Feb 26 Hogs closed at $87.125, up $1.075,
