Lean hog futures posted losses of $1.45 to $1.80 on the Wednesday session. USDA’s national base hog price was up 15 cents in the Wednesday afternoon report at $69.71. The CME Lean Hog Index was up 31 cents on December 15 at $83.30.
CFTC data, now just 2 weeks old, showed spec funds at a net long of 46,650 contracts in lean hog futures and options as of the week ending on December 2. That was a drop of 3,543 contracts from the week prior.
USDA’s pork carcass cutout value from the Tuesday PM report was 2 cents lower to $98.54 per cwt. The butt and picnic primals were the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 494,000 head, with the weekly total at 1.462 million head. That was 9,000 head below last week and 927 head above the same week last year.
Feb 26 Hogs closed at $83.000, down $1.775,
Apr 26 Hogs closed at $87.950, down $1.750
May 26 Hogs closed at $91.925, down $1.450,
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.
More news from Barchart
