On Friday, lean hog futures increased by 22 cents to $1.50, although August hogs saw a decline of $4 this week. The USDA reported a national base hog price of $100.41, down 64 cents from the previous day, while the CME Lean Hog Index was at $98.44 as of July 29, down by $0.01.
The CFTC Commitment of Traders report revealed that managed money reduced their net short position by 7,273 contracts to a total of 10,884 contracts as of July 28. Additionally, USDA reported the weekly federally inspected hog slaughter at 2.284 million head, which is 21,000 head above last week but 55,494 head below the same week last year.
The pork carcass cutout value stood at $101.46 after a decrease of 18 cents, with only the picnic, ham, and belly primals reporting lower values. As of Friday, August 26 hogs closed at $98.850, October 26 hogs at $84.850, and December 26 hogs at $75.675.
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