Lean Hogs

Lean hog futures closed the day 37.5 to 90 cents higher in the front months. Nearby Feb was 4.05% higher than last Friday. The CME Lean Hog Index was up 2 cents on January 31 at $73.87. The USDA pork carcass cutout value was 19 cents lower at $81.63 in the Friday PM report. The loin, rib, and belly were all reported lower. The national base hog weighted average price was up $1.08 to $71.59. The USDA estimated weekly FI hog slaughter at 2,438,000 through Saturday, which is 68,000 larger than last week, and 111,000 head more than this week last year. Money managers in lean hog futures and options trimmed 7,265 contracts off their CFTC net long position to 52,503 contracts.

Feb 18 Hogs closed at $75.200, up $0.375,

Apr 18 Hogs closed at $73.550, up $0.725

May 18 Hogs closed at $79.325, up $0.900

Market Commentary provided by:

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