Lean hog futures posted entrance month power on Friday, with contracts up a dime to $1 on the shut. April was again down 72 cents on the week. The Friday afternoon nationwide common base hog negotiated value from the USDA was reported at $89.05, down a dime from the day prior. The CME Lean Hog Index was again down 3 cents from the day before today at $89.747 on March 12.
Speculators in lean hog future and choices in the reduction of one other 1,909 contracts from their internet lengthy as of March 11, taking that internet lengthy to 55,571 contracts as of Tuesday.
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USDA’s FOB plant pork cutout was up 9 cents within the Friday PM report at $97.38 per cwt. The loin and stomach primals had been reported decrease, with the remainder heading larger. USDA estimated this week’s Federally inspected hog slaughter at 2.515 million head. That’s 97,000 head above final week and 59,009 head bigger than the identical week final yr.
Apr 25 Hogs closed at $86.625, up $1.000,
Could 25 Hogs closed at $89.200, up $0.400
Jun 25 Hogs closed at $96.300, up $0.100,
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Reference :
https://www.nasdaq.com/articles/hogs-close-higher-front-months-friday