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Hogs Close Higher on Friday

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Front month lean hog futures were 12 cents to $1.30 higher at the closing bell. For August the 57 cent gain reduced the net weekly loss to $2.00. August futures and options expire in two weeks on the 14th. The CME Lean Hog was $53.56, up by 61 cents on July 29. USDA’s National Average afternoon Base Hog price for Friday was $40.97, down by 38 cents. The weekly update from CFTC showed managed money OI increased 4.56% wk/wk. The additional open interest was a near wash, and managed money was 10,721 contracts net long on July 28. USDA’s National Pork Carcass Cutout value fell back $2.26 to $65.31 in the PM quote. The primals were mostly lower, led by hams which were down $6.47 cwt. to $48.64. Federally inspected hog slaughter for the week through Saturday was estimated at 2.543 million head. That exceeds the same week last year by 196,000 head.

Aug 20 Hogs closed at $52.000, up $0.575,

Oct 20 Hogs closed at $49.625, up $1.300

Dec 20 Hogs closed at $50.375, up $0.600

--- provided by Brugler Marketing & Management

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