Hog Losses Proceed on Friday | U.S. Finance Information
Lean hog futures closed the Friday session with contracts down 70 cents to $2.57 on the close, as April was $4 decrease this week. The national average base hog negotiated price was reported at $90.02 on Friday afternoon by the USDA, up 53 cents from the day prior. The CME Lean Hog Index was back down 10 cents from yesterday on February 26 at $89.39.
President Trump’s 25% tariffs on Mexico and Canada are nonetheless set for a March 4 begin date after some back and forth this week.
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Managed Cash speculators had been slashing 23,656 contracts from their web long as of 2/25, taking the online long to 90,492 contracts.
USDA reported the Friday afternoon FOB plant pork cutout worth down $2.54 at $98.42 per cwt. The stomach flip flop continues, back down $22.88, with the butt the one different primal reported decrease. USDA reported this week’s Federally inspected hog slaughter estimated at 2.538 million head. That’s 16,000 head above final week and 12,533 head above the identical week final yr.
Apr 25 Hogs closed at $83.675, down $0.700,
Might 25 Hogs closed at $87.425, down $1.325
Jun 25 Hogs closed at $95.025, down $2.575,
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 knowledge on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
right here.
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