⛏Lean Hog Futures
LEANHOG
± MixedSupplyrelevance
Mixed price moves with increased net long position by managed money, but slaughter data shows mixed supply signals.
Impact on assets 1
Others
Lean hog futures ended Friday mixed, with contracts ranging from 27 cents lower to 40 cents higher. The CME Lean Hog Index slipped 9 cents to $90.07 on May 7, while the national average base hog negotiated price rose 45 cents to $94.47. Managed money increased its net long position in lean hog futures and options by 2,979 contracts as of May 6, bringing the total to 70,622 contracts. The FOB plant pork cutout value jumped $3.33 to $97.83 per hundredweight, with bellies the only primal reporting a decline. Federally inspected hog slaughter last week reached 2.437 million head, down 49,000 from the prior week but up 56,877 from a year ago.
Mixed price moves with increased net long position by managed money, but slaughter data shows mixed supply signals.