Hogs Close Mixed on Friday, as Specs Improve Record Net Long
Lean Hog futures settled Friday with contracts down 47 to 77 cents in the nearbys, but up 7 to 42 cents in most others. December fell $3.65 on the week. The national average base hog negotiated price was reported at $81.67 on Friday afternoon, a drop of $3.36 from the previous day. The CME Lean Hog Index was reported at $90.61 on November 6, up another 37 cents from the day prior.
Commitment of Traders data from this afternoon showed specs in lean hog futures and options expanding their record net long by 12,683 contracts to a net long position of 115,587 contracts.
USDA’s FOB plant pork cutout value was sharply higher in the Friday PM report, back up $4.42 at $102.38 per cwt. The loin was the only primal reported lower, with the belly primal the driver to the upside $19.54 higher. USDA estimated this week’s FI hog slaughter at 2.605 million head through Saturday. That is 48,000 head below the previous week but 26,622 head above the same week last year.
Dec 24 Hogs closed at $80.425, down $0.775,
Feb 25 Hogs closed at $84.825, down $0.475
Apr 25 Hogs closed at $89.250, up $0.075,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.