Hogs Face Pressure on Friday

Lean hog futures saw Friday losses of $1.15 to $1.45 across most contracts on Friday, with October up 40 cents for the week. USDA’s national base hog price was not reported on Friday due to thin volume. The CME Lean Hog Index was up another 23 cents on September 2 at $91.08. The market will be closed on Monday for Labor Day.

The weekly update to the Commitment of Traders report showed managed money trimming 2,812 contracts from their net short position in the week ending on 9/1 at 28,323 contracts. 

USDA’s pork carcass cutout value was back up $1.74 in the Friday PM report, at $92.86. The loin and ham were the only primals reported lower, with the belly back up $12.51. USDA estimated federally inspected hog slaughter for this week at 2.315 million head. That is 62,000 head below the previous week.

Oct 26 Hogs  closed at $82.300, down $1.150,

Dec 26 Hogs  closed at $72.475, down $1.450

Feb 27 Hogs  closed at $75.225, down $1.375,

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.