Hogs Post Mixed Friday Action
Lean hogs were anywhere from 35 cents lower to $1.80 higher to close out Friday trade. The USDA National Base Hog price was reported at $83.04 on Friday afternoon, down $3.73 from the day prior. The CME Lean Hog Index was reported at $88.65 on July 10, back down 2 cents from the previous day.
Lean hog spec traders added 2,568 contracts of futures and options as of July 9 to their net short at 11,412 contracts by last Tuesday.
USDA reported the Friday PM Pork Cutout Value $2.61 higher at $98.84. The rib primal was the only reported lower, with ham the primal leading the way higher, up $10.20. USDA estimated this week’s FI hog slaughter at 2.386 head. That was well above last week and 47,632 larger than the same week last year.
Jul 24 Hogs closed at $88.700, up $0.150,
Aug 24 Hogs closed at $88.450, up $1.775
Oct 24 Hogs closed at $70.150, up $0.750,
On the date of publication, Alan Brugler 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.