Hogs Slip Lower into the Weekend
Lean hogs posted losses of 17 to 95 cent across most nearby contracts on Friday. The USDA National Base Hog price was reported at 84.07 the Friday PM print, down $1.16 from the previous day. The CME Lean Hog Index was $93.53 on July 31, up another 45 cents from the previous day.
Managed money flipped back to net long in the lean hog futures and options market as of July 30 by 10,574 contracts to 6,144 contracts.
USDA’s FOB plant pork cutout value was back down $1.55 in the Friday PM average carcass quote, at $104.31 per cwt, a reversal of the morning print. All primals were reported lower. USDA estimated the weekly FI hog slaughter at 2.455 million head. That is up 19,000 head from last week and 7,111 head above the same week a year ago.
Aug 24 Hogs closed at $92.200, down $0.950,
Oct 24 Hogs closed at $76.575, down $0.450
Dec 24 Hogs closed at $69.150, down $0.175,
On the date of publication, Alan Brugler 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.