Hogs Marginally Mixed on Friday
Lean hog futures ended Friday with mixed trade, as front months were down 2 to 7 cents and others up 20 to 52 cents. October was up $3.77 on the week. The national average base hog price was reported at $76.88 on Friday afternoon, up 61 cents from the previous day. The CME Lean Hog Index was $84.38 on September 18, back up 16 cents from the day prior.
Commitment of Traders data tallied the spec funds in lean hog futures and options at a net long of 39,715 contracts as of September 17, a 2,003 contract addition on the week.
USDA’s FOB plant pork cutout value was back down 66 cents in the Friday PM report at $94.15 per cwt. The picnic and loin were the only primals reported higher, with the belly leading the way to the downside, $5.73 lower. USDA estimated FI hog slaughter 2.506 million head for the full week. That is down 59,000 head from the previous week and 40,648 head below the same week last year.
Oct 24 Hogs closed at $82.225, down $0.025,
Dec 24 Hogs closed at $74.225, down $0.075
Feb 25 Hogs closed at $77.550, up $0.225,
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.