Lean hog futures were weaker on Friday as contracts were down 20 to 77 cents at the close, with April down $2.175 this week. USDA’s national base hog price was reported at $90.38 on Friday afternoon, down $2.42 from the day prior. The CME Lean Hog Index was another 11 cents higher on March 18 at $92.04.
Friday’s CFTC Commitment of Traders report indicated a total of 11,151 contracts cut from the spec fund net long position in lean hog futures and options as of March 17. That took the net long to 116,553 contracts.
USDA’s pork carcass cutout value from the Friday PM report was back up $1.15 at $99.20 per cwt. The rob and ham were reported higher. USDA estimated this week’s federally inspected hog slaughter at 2.491 million head. That is 41,000 head below last week but 66,825 head above the same week last year.
Apr 26 Hogs closed at $91.275, down $0.775,
May 26 Hogs closed at $95.725, down $0.325
Jun 26 Hogs closed at $104.475, down $0.275,
