Lean hog futures saw mixed trade on Friday, with contracts 7 cents higher to 42 cents lower. February was up 12 cents last week. Open interest rose 3,972 contracts on Friday. USDA’s national base hog price was reported at $85.39 on Friday afternoon, down $1.19 from the day prior. The CME Lean Hog Index was 32 cents higher on Feb 4 at $86.38.
CFTC data showed managed money adding a total of 15,051 contracts to the net long position in lean hog futures and options in the week of Tuesday, taking the total to 128,857 contracts.
USDA’s pork carcass cutout value from Friday afternoon report was $1.50 lower to $93.77 per cwt. The butt led the way lower, down $8.65, with the ham the only primal heading higher. USDA estimated federally inspected hog slaughter for last week at 2.593 million head. That was 92,000 head above last week and 72,094 head below the same week last year.
Feb 26 Hogs closed at $87.375, up $0.075,
Apr 26 Hogs closed at $97.950, down $0.425
May 26 Hogs closed at $101.275, down $0.225,
