Hogs Rally into the Weekend

Lean hog futures surged nearly a dollar and a half to finish the week, buoyed by solid midweek activity. The USDA’s national base hog price settled at $89.57 on Friday, falling 19 cents from the prior day. Meanwhile, the CME Lean Hog Index dipped 28 cents, closing at $92.14. Friday’s Commitment of Traders data indicated that managers increased net short exposure to 31,135 contracts as they added 7,649 new positions across lean hog futures and options, establishing a new weekly record.

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USDA reported that the pork carcass cutout value jumped $2.26 to $96.06 in the Friday afternoon release. All primaries posted gains, led by a $6.30 increase in the belly segment. Federally inspected hog slaughter reached 2.377 million head this week—including Saturday—and was 11,000 head above the same period last week while remaining 9,985‑head lower compared with the prior week.

Oct 26 closed at $81.90, up $1.275;

Dec 26 closed at $72.30, up $1.100

Feb 27 closed at $74.98, up $1.125,

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.

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