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Hogs Fall to Weakness on Friday
Lean hog futures extended the pullback from Wednesday with losses of 20 to 55 cents across the front months, with February up just a tick last week. Open interest was up 808 contracts on Friday. USDA’s national base hog price was reported at $67.19 on Friday afternoon. The CME Lean Hog Index was back down a penny on December 23 at $83.71.
USDA’s pork carcass cutout value from the Friday PM report was back up $4.05 at $97.71 per cwt. The loin, butt, and picnic were the primals reported lower, with belly back up $23.44. USDA estimated federally inspected hog slaughter for last week was tallied at 1.978 million head. That was well below last week and down 85,628 head from the same week last year.
Feb 26 Hogs closed at $84.525, down $0.525,
Apr 26 Hogs closed at $89.475, down $0.325
May 26 Hogs closed at $93.425, 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.
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