Hog Markets in Black for Friday

Nearby lean hog futures closed the session 27 to 92 cents higher, which for Oct added up to a weekly gain of 4.02%. August futures expired today. The Lean Hog Index from CME was $53.48 for August 12, down by 34 cents. USDA’s National Average Afternoon Base Hog price for Friday was 9 cents higher at $37.60. USDA’s National Pork Carcass Cutout value was quoted $74.93 in the PM report, up $1.17. Bellies were $9.93 lower, but all other primals were quoted higher. From Friday to Friday, hams were up 20%. The CFTC’s Commitment of Traders report showed new buying coupled with short covering from lean hog spec traders. From week to week, managed money was 4,715 contracts more net long to 18,286 as of the 11th. USDA estimates the week’s hog slaughter through Saturday at 2.565 million head. YTD hog slaughter outpaces last year by 1.1%.

Oct 20 Hogs closed at $53.025, up $0.675,

Dec 20 Hogs closed at $54.625, up $0.275

Feb 21 Hogs closed at $61.900, up $0.425

--- provided by Brugler Marketing & Management




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