Lean hog futures are down 50 to 85 cents so far on Friday. USDA’s national base hog price was not reported on Friday morning due to thin volume. The CME Lean Hog Index was back up a penny on December 30 at $82.26.
CFTC data showed managed money in lean hog futures and options adding 10,489 contracts to their net long in the week of 12/23 to a net long position of 75,325 contracts.
USDA’s pork carcass cutout value from the Friday AM report was $1.97 higher at $95.71 per cwt. The loin was the only primal reported lower, with the belly up $5.32 and leading the charge. USDA estimated federal inspected hog slaughter for Wednesday at 418,000 head, with the weekly total at 1.36 million head.
Feb 26 Hogs are at $84.275, down $0.825,
Apr 26 Hogs are at $89.150, down $0.750
May 26 Hogs are at $93.425, down $0.575,
