Lean hog futures were mixed on Friday, with April down a nickel and the rest of the board up 20 to 67 cents. April was down a dime on the week. Open interest was down 1,851 contracts. USDA’s national base hog price was reported at $91.69 on Friday afternoon, up $1.95 from the day prior. The CME Lean Hog Index was 37 cents higher on March 4 at $90.55.
Commitment of Traders data from Tuesday’s close showed managed money increasing their net long in lean hog futures and options by 7,053 contracts to 124,036 contracts.
USDA’s pork carcass cutout value from the Friday PM report was down 95 cents at $98.27 per cwt. The belly, rib, and picnic primals were reported higher, with the loin, butt, and ham all lower. USDA estimated this week’s federally inspected hog slaughter at 2.497 million head. That is 19,000 head below last week but 95,953 head above the same week last year.
Apr 26 Hogs closed at $95.625, down $0.050,
May 26 Hogs closed at $100.850, up $0.325
Jun 26 Hogs closed at $110.575, up $0.675,
