Lean hog futures saw contracts steady to 50 cents higher on Friday, with August slipping $3.35 on the week. USDA’s national base hog price was reported at $97.67 on Friday afternoon, down 63 cents from the day prior. The CME Lean Hog Index was down 29 cents on August 5 at $96.66.
The weekly CFTC Commitment of Traders report showed managed money trimming 1,242 contracts from their net short position in the week of August 4. That took the net short to 9,642 contracts.
USDA’s pork carcass cutout value was back up $2.24 in the Friday PM report, at $101.50. All primals were reported higher. USDA estimated federally inspected hog slaughter for last week 2.281 at million head. That is 17,000 head above the previous week but 49,977 head above the same week last year.
Aug 26 Hogs closed at $95.500, unch,,
Oct 26 Hogs closed at $82.225, up $0.500
Dec 26 Hogs closed at $73.575, up $0.350,
