Hogs Proceed Rebound on Friday | U.S. Finance Information
Lean hog futures closed the Friday session with contracts up 70 cents to $1.10. April was up $3.67 on the week to take back most of the latest weak point. USDA’s national average base hog negotiated price was reported at $88.89 on Friday afternoon, a drop of $1.88. The CME Lean Hog Index was down one other 2 cents from the day past on March 5 at $90.18.
Managed money was displaying a mass long liquidation in lean hog futures and choices as of March 4, with the web long down a file 33,012 contracts to 57,480 contracts.
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USDA’s FOB plant pork cutout from Friday afternoon was $1.87 increased to $98.36 per cwt. All primals had been reported increased. USDA estimated this week’s Federally inspected hog slaughter at 2.418 million head. That’s 120,000 head under final week on some transportation points and 22,322 head behind the identical week final yr.
Apr 25 Hogs closed at $87.350, up $0.700,
Might 25 Hogs closed at $90.600, up $0.925
Jun 25 Hogs closed at $98.100, up $1.075,
On the date of publication,
Austin Schroeder
didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
right here.
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