Lean hog futures closed out February with contracts steady to 40 cents lower, as April held onto a $2.05 gain this week. USDA’s national base hog price was reported at $90.38 on Friday afternoon, down 62 cents from the day prior. The CME Lean Hog Index was 41 cents higher on Feb 25 at $89.12.
CFTC data showed a total of 522 contracts added to the managed money net long position in lean hog futures and options at 116,983 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up 39 cents at $97.77 per cwt. The butt and rib primals were the only reported lower. USDA estimated federally inspected hog slaughter for this week at 2.516 million head. That is 23,000 head above last week and 9,170 head below the same week last year.
Apr 26 Hogs closed at $95.725, unch
May 26 Hogs closed at $100.125, down $0.225
Jun 26 Hogs closed at $109.550, down $0.375,
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.