Lean hog futures continued the mixed trend this week with contracts up 85 to 67 cents lower. August was up 25 cents on the week. USDA’s national base hog price was up $1.25 in the Friday PM report at $98.30. The CME Lean Hog Index was 37 cents higher on July 8 at $92.35.
The weekly CFTC Commitment of Traders report showed managed money adding another 1,635 contracts to their near net short position in the week of July 7. That took the net short to 29,002 contracts.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.USDA’s pork carcass cutout value was $2.53 higher in the Friday afternoon report at $101.34. All primals were reported higher, led by the belly, up $8.45. USDA estimated federally inspected hog slaughter for this week at 2.369 million head. That is 395,000 head above the week prior due to the holiday and 29,253 head above the same week last year.
Jul 26 Hogs closed at $94.775, up $0.450,
Aug 26 Hogs closed at $99.000, up $0.850
Oct 26 Hogs closed at $85.075, down $0.575,
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.- Bacon, Lettuce, and Tomato Season Is Almost Here. Lean Hog Prices Could Head Even Higher.
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