⛏Lean Hog Futures
LEANHOG
▲ PositiveSupplyrelevance
USDA report shows hog inventory and breeding stock down, farrowing intentions down, below trade estimates, supporting futures prices.
Impact on assets 1
Others
Lean hog futures closed $1 to $1.37 higher on Friday, with the October contract up $1.000 to $81.950, following the USDA's Hogs and Pigs report. The report showed June 1 hog inventory at 73.664 million head, down 0.04% from last year, with breeding stock down 1.16% and market hog inventory up just 0.05%, well below trade estimates of a 1.1% increase. Farrowing intentions for June through August are seen at 2.9 million head, down 2.19% from last year. The national base hog price was $93.44, down $1.85 from the prior day, while the pork carcass cutout value rose 15 cents to $95.37. Managed money increased its net short position in lean hog futures and options by 4,601 contracts to 25,560 as of June 23.
USDA report shows hog inventory and breeding stock down, farrowing intentions down, below trade estimates, supporting futures prices.