Lean Hogs

Lean hog futures closed Friday trade with 15 cent to $2.625 losses, ahead of July’s expiration. July futures expire today and need to stick close to where they think the index will be. The CME Lean Hog Index for 7/12 was 9 cents higher than the previous day at $92.84. The USDA pork carcass cutout value was 81 cents higher in the Friday afternoon report, with a weighted average of $104.48. The national base hog carcass price was 40 cents lower with a weighted average of $86.40 in Friday afternoon’s report. Weekly FI hog slaughter was estimated at 2,202,000 head, 81,000 more than the same week in 2016. Spec traders added to their net long position in lean hogs futures and options for the 11th week in a row to 84,189 contracts as of Tuesday July 11.

Market Commentary provided by:

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