Lean hog futures closed mixed, with December up 27 cents and other contracts down 12 to 50 cents. Open interest was up 1,114 contracts on Tuesday. USDA’s national base hog price was reported at $71.33 on Tuesday afternoon, down 35 cents from the day prior. The CME Lean Hog Index was down another 25 cents on November 28 at $81.67.
CFTC data from Tuesday afternoon for the week of 10/21 showed specs continuing to liquidate their net long by another 11,697 contracts to 117,231 contracts.
USDA’s pork carcass cutout value from the Tuesday afternoon report was down 57 cents to $94.22 per cwt. The loin and belly were the only primals reported lower. USDA estimated federally inspected hog slaughter for Tuesday was 489,000 head, with the week to date total at 971,000 head. That was 16,000 head below last week but 275 head above the week last year.
Dec 25 Hogs closed at $80.500, up $0.275,
Feb 26 Hogs closed at $80.175, down $0.125
Apr 26 Hogs closed at $83.825, down $0.450,
