Lean hog futures closed the Friday session with contracts up 57 cents to $1.22, as April was 50 cents decrease over the course of the week. The USDA nationwide common base hog negotiated worth was reported at $88.40 on Friday afternoon, down 99 cents from the day prior. The CME Lean Hog Index was again down 21 cents from the day prior to this at $89.20 on March 19.
Weekly Dedication of Merchants knowledge from CFTC confirmed a complete of 1,138 contracts added again to the web lengthy in lean hog futures and choices as of March 18. That took their internet lengthy to 56,709 contracts.
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The Friday morning FOB plant pork cutout from USDA was up $1 at $96.86 per cwt. The stomach and picnic have been the one primals reported decrease. USDA estimated this week’s Federally inspected hog slaughter at 2.428 million head. That was down 81,000 from final week and 92,684 head beneath the identical week final 12 months on the midweek blizzard and transportation slowdown.
Apr 25 Hogs closed at $86.125, up $0.575,
Might 25 Hogs closed at $89.650, up $1.050
Jun 25 Hogs closed at $97.475, up $1.225,
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Reference :
https://www.nasdaq.com/articles/hogs-post-gains-friday