Lean hog futures posted losses of 37 to 60 cent losses in most contracts on Friday, as April was an exception, up a nickel. June was down 75 cents on the week. Open interest was up 1,757 contracts on Friday, suggesting marginal new selling. USDA’s national base hog price was reported at $89.36 on Friday afternoon, down 56 cents from the day prior. The CME Lean Hog Index was back down a penny on April 8 at $90.29.
Managed money was busy adding back 3,853 contracts to their net long in lean hog futures and options as of April 7, taking it to 98,061 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up $1.32 at $98.70 per cwt. The belly primal was the only reported lower. USDA estimated last week’s federally inspected hog slaughter at 2.472 million head. That was 76,000 head above the previous week and 4,501 head shy of the same week last year.
Apr 26 Hogs closed at $90.725, up $0.050,
May 26 Hogs closed at $95.525, down $0.375
Jun 26 Hogs closed at $103.725, down $0.400,
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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