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Hogs Slip on Friday to Extend Weekly Slide
Lean hog futures closed the Friday session with losses of a tick to 45 cent across most contracts. October was down another $1.05 on the week. The national average base hog price was reported at $76.00 on Friday afternoon even with the previous day. The CME Lean Hog Index was $85.35 on September 10, down 11 cents from the day prior.
Commitment of Traders data showed the managed money crowd trimming 1,348 contracts from their net long position as of September 10 to 37,712 contracts.
USDA’s FOB plant pork cutout value was 28 cents lower in the Friday PM report at $93.90 per cwt. The loin, butt, and belly were the primals reported lower, with the other 3 up in a range from 53 cents to $2.70. USDA estimated FI hog slaughter at 2.571 million head for this week. That is well above the previous non-holiday week and 35,533 head larger than the same week last year.
Oct 24 Hogs closed at $78.450, down $0.450,
Dec 24 Hogs closed at $71.300, down $0.250
Feb 25 Hogs closed at $74.975, down $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.