Front-month lean hog futures were up $1.32 to $1.85 on the last trading day of the week. That left the April contract at a net 87c gain for the week. The USDA National Average Base Pork price was down $2.82 Friday afternoon to $72.67. The CME Lean Hog Index was $79.91 up 13 cents for 2/27.
The lean hog type traders were shown with a 63,064 contract net long as of 2/27 via the CoT data. That was their strongest net long since September of ’22 after adding 11.3k new longs during the week.
Pork chop futures were 70 cents higher on Friday. The Pork Carcass Cutout Value for Friday was up a strong $4.23 Friday afternoon to $94.45. Bellies led the way with a $20.59 increase to $137.03. Pig production for the week was reported at 551.1m pounds from a 2,549m head slaughter. Pig production decreased 1.4% against last week, but increased 0.6% from the same week last year, as slaughter decreased 1.1% and was 1% higher respectively. The YTD pig slaughter reached 22,848m head against 22,561m head at the same point last year.
Apr 24 Hogs closed at $88,075, up $1,450,
24 May Hogs closed at $92,050, up $1,325
Apr 24 Pork closed at $94,000, up $0,700,
As of the date of publication, Alan Brugler 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
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