Hogs Look to Monday Trade
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Lean hog futures closed mixed last week, with prices fluctuating between a 75-cent drop and a 67-cent increase. The USDA reported a national base hog price of $93.77, up $3.07 from the previous day. The CME Lean Hog Index decreased by 17 cents to $91.02. Open interest rose by 3,290 contracts, while the net long position in lean hog futures fell by 6,483 contracts to 51,082. USDA's pork carcass cutout value increased by $1.96 to $97.56 per cwt, with slaughter numbers up from last week and last year.
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