Hog Weakness Continues into the Weekend

Lean hog futures posted losses of 12 to 77 cents at the Friday close, with December down $2.30 this week.  USDA’s national base hog price was at $74.26 in the Friday afternoon report, back up $1.75 from the day prior. The CME Lean Hog Index was down another 50 cents on October 7 at $78.41. 

CFTC data from Friday showed spec traders in lean hog futures and options slashing 8,914 contracts from their net short position in the week ending on October 6. That took their net short to 35,272 contracts as of Tuesday.

USDA’s pork carcass cutout value was up 86 cents in the Friday PM report, at $80.50. The loin and butt were the only primals reported lower. Federally inspected hog slaughter for the week was estimated at 2.627 million head. That was 74,000 head above last week and 47,019 head larger than the same week last year.

Oct 26 Hogs  closed at $75.050, down $0.775,

Dec 26 Hogs  closed at $67.825, down $0.775

Feb 27 Hogs  closed at $69.250, down $0.625,

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.