Hogs Close Mixed on Friday, as Specs Move to Record Net Long

Lean Hog Futures closed the Friday session with contracts up 50 cents to down a dime in the front months. October was up another 85 cents this week. USDA’s national base hog report from Friday afternoon was reported at $103.61, down $1.99 from the day prior. The CME Lean Hog Index was down 16 cents on September 17 at $105.70.

Managed money increased their net long position in lean hog futures and options by 7,835 contracts in the week ending on September 16th. By Tuesday, they held a record net long position of 142,258 contracts.

USDA’s FOB plant pork cutout report from Friday AM was up just 8 cents at $112.03 per cwt. The loin primal was the only reported lower. USDA estimated federally inspected hog slaughter this week at 2.593 million head. That was 85,000 head above last week and 75,977 head above the same week last year.

Oct 25 Hogs  closed at $97.975, up $0.500,

Dec 25 Hogs  closed at $87.625, down $0.075

Feb 26 Hogs  closed at $89.800, up $0.100,

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. This article was originally published on Barchart.com