Hogs Close the Week with Mixed Trade
Lean hog futures posted mixed action on Friday, with contracts down 27 cents to up 40 cents. June was down $1.77 this week. USDA’s national average base hog negotiated price was reported at $94.47 on Friday afternoon, up $0.45. The CME Lean Hog Index was back down 9 cents on May 7, at $90.07.
Managed money increased their net long position in lean hog futures and options by 2,979 contracts as of May 6, taking the total to 70,622 contracts.
Friday afternoon’s FOB plant pork cutout value was up $3.33/cwt on a carcass basis, at $97.83. The belly was the only primal that was reported lower. Federally inspected hog slaughter estimated by the USDA for this week was 2.437 million head. That was down 49,000 head from the previous week but was 56,877 head above the same week last year.
May 25 Hogs closed at $90.375, down $0.275,
Jun 25 Hogs closed at $97.575, up $0.400
Jul 25 Hogs closed at $100.425, up $0.175,
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.