Lean hog futures posted Friday gains of 97 cents to $1.50, as bulls fought back to close out the week. October was still down 57 cents since last Friday. USDA’s national base hog price was down $2.49 in the Friday PM report, at $107.88. The CME Lean Hog Index was back up a nickel at $109.83 on August 13.
The large managed money speculators in lean hog futures and options added back another 1,446 contracts to their net long position as of 8/12 to 110,732 contracts.
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USDA’s FOB plant pork cutout report from Friday afternoon was back up $1.22 at $116.40 per cwt. The belly was back lower after strength in the AM print, with the picnic also lower. USDA estimated hog slaughter for the full week to date total at 2.417 million head. That was 67,000 head above last week but down 98,5454 head from the same week last year.
Oct 25 Hogs closed at $90.100, up $0.975,
Dec 25 Hogs closed at $83.025, up $1.400
Feb 26 Hogs closed at $85.625, up $1.400,
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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