Hogs Head into Weekend with Limit Losses

Lean hog futures were down the expanded limit in the May and June contracts, April hogs were a nickel off. Friday’s trades erased the week’s early progress as April hog futures were $3.12 lower wk/wk. The CME Lean Hog Index for March 25th was $66.17, up another $1.05, still ignoring the futures action. The National Average Afternoon Base Hog price was $58.07, down by 77 cents on Friday. CFTC data from Tuesday showed lean hog spec traders were 23,130 contracts net long. Managed money OI is down 41.6% over the last 5 weeks to 80,142 contracts. USDA estimated this week’s FI hog slaughter at 2.754 million head through Saturday. That is 226,000 head more than the same week last year. YTD slaughter is currently 5.0% above last year’s pace. USDA estimated YTD pork production through 03/28 at 7.174 billion lbs, which is 5.4% higher yr/yr.

Apr 20 Hogs closed at $58.450, down $4.450,

May 20 Hogs closed at $57.625, down $4.500

Jun 20 Hogs closed at $64.250, down $4.500

--- provided by Brugler Marketing & Management




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