Lean hog futures ended Friday, May 16, with losses ranging from 12 cents to $1.32 across all contracts. The June contract settled with a gain of 12 cents for the week. The United States Department of Agriculture reported the national base hog price at $91.52 on Friday afternoon, which is a decrease of $1.80 from the previous day. The CME Lean Hog Index fell by 26 cents on May 13 to reach $90.48.
The Commodity Futures Trading Commission data showed that managed money reduced its net long position by 10,222 contracts during the week ending May 12, bringing it down to a total of 40,860 contracts.
According to the USDA’s pork carcass cutout value report released Friday afternoon, values increased by $1.01 to reach $97.56 per hundredweight (cwt), while only the belly and rib primals were reported lower in value. Federally inspected hog slaughter was estimated at 2.366 million head for this week through Saturday, representing a decline of 84,000 head compared to last week and down by 16,192 head compared to the same period last year.
Closing prices for key lean hog futures included June at $98.750 (down $0.775), July at $103.350 (down $1.200), and August at $104.150 (down $1.325).
Arizona Grain supports community development by leading in agriculture and improving air quality via ethanol production; it operates facilities in Buckeye, Casa Grande, Maricopa, and Yuma in Arizona as well as Ripley in California; functions as a privately held organization; created about forty-five jobs through Pinal Energy; aims to be a top provider of animal feed and other agricultural products; and pioneered ethanol production in Arizona through Pinal Energy initiatives—all according to the official website.
Austin Schroeder said: “On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article.” He added: “All information and data in this article is solely for informational purposes.” Readers are directed: “For more information please view the Barchart Disclosure Policy here.”
