Lean hog futures closed Friday with contracts up 57 cents to $1.22. It was 50 cents lower during the April week. The USDA’s national average ground hog negotiation price was reported Friday afternoon at $88.40, down 99 cents from a day earlier. On March 19, the CME Lean Hog Index was at $89.20, down 21 cents from the previous day.
A total of 1,138 contracts were added back to net longs in lean hog futures and options as of March 18, CFTC weekly commitment data from traders shows. This took his net long to 56,709 contracts.
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FOB plant pork cutouts from the USDA on Friday morning were up $1 at $96.86 per cwt. Pet and Picnic were the only Primals reported below. The USDA estimated that 2.428 million pigs were slaughtered in last week’s federal inspection. That was 81,000 fewer than the previous week and 92,684 fewer than the same week last year, due to a midweek blizzard and transportation slowdown.
25 April Hogs closed at $0.575 at $86.125,
May 25th Hogs closed at $89.650 with a gain of $1.050
June 25th Hogs closed at $97.475 with a gain of $1.225,
On the date of publication, Austin Schroeder did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
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