Lean hog futures slipped lower on Friday, with contracts down 7 to 62 cents, as October was down just 47 cents on the week. Open interest was up 2,163 contracts on Friday, suggesting modest new selling. USDA’s national base hog price was reported at $93.30 on Friday afternoon, down $4.07 from the day prior. The CME Lean Hog Index was down 2 cents on August 12 at $95.87.
Friday’s Commitment of Traders data showed managed money adding 5,479 contracts back to their net short position in lean hog futures and options during the week of August 11. That took their net short to 15,121 contracts.
USDA’s pork carcass cutout value was back up 98 cents in the Friday PM report, at $99.90. The belly primal was the only reported lower. USDA estimated federally inspected hog slaughter for the week at 2.334 million head, including Saturday. That is 63,000 head above the previous week but down 83,362 head from the same week last year.
Aug 26 Hogs closed at $95.400, down $0.075,
Oct 26 Hogs closed at $81.750, down $0.375
Dec 26 Hogs closed at $72.475, down $0.625,
