Hogs Higher Midsession on Friday
Lean hog futures are 67 cents to a dollar higher at midday on Friday, excluding the thinly traded May contract. Preliminary open interest was up 3,201 on Thursday USDA’s national average base hog negotiated price was reported at $92.23 on Friday morning, a 21 cent dop from the day prior. The CME Lean Hog Index is indicated another 32 cents higher for April 30, at $89.57. Better than expected employment numbers are underpinning demand ideas.
The Friday morning FOB plant values for pork cutout value are up $2.96 per 100 pounds on a carcass basis, at $99.42. All primals excluding the picnics are quoted higher this morning. Thursday’s federally inspected hog slaughter from USDA was estimated at 483,000 head, taking the weekly total to 1.938 million head. That is up 150,000 head from the previous week and 23,810 head above the same week last year.
May 25 Hogs are at $92.775, up $0.375,
Jun 25 Hogs are at $99.600, up $1.425
Jul 25 Hogs is at $100.825, up $1.900,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.