Hogs Slip Lower on Friday
Lean hog futures posted mostly lower trade on Friday, with contracts down 5 to 32 cents. December managed to post a $2.77 gain on the week. The national average base hog price was reported at $74.89 on Friday afternoon, which was up 90 cents from the previous day. The CME Lean Hog Index was reported at $84.90 on October 2, up 45 cents from the day prior.
Managed money in lean hogs added another 5,447 contracts to their net long as of 10/1 at 57,052 contracts.
USDA’s FOB plant pork cutout value was reported at $94.31 per cwt in the Friday PM release, down 49 cents from the day prior. The loin, belly, and rib were the only primals reported higher. USDA estimated FI hog slaughter for this week at 2.586 million head. That is up 34,000 head from the previous week and 11,431 head above the same week last year.
Oct 24 Hogs closed at $84.025, down $0.150,
Dec 24 Hogs closed at $76.150, down $0.250
Feb 25 Hogs closed at $79.825, down $0.325,
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.
