Lean Hog Futures Trade Mixed on 02-06; CME Net Long Reaches 128,857

Lean hog futures closed mixed on February 6, with contracts ranging 7 cents higher to 42 cents lower. February contracts ended up 12 cents for the week. USDA reported the national base hog price at $85.39, down $1.19 from the prior day. The CME Lean Hog Index was up 32 cents at $86.38 on Feb 4. CFTC data showed managed money adding 15,051 contracts to the net long position in lean hog futures and options in the week of Tuesday, bringing the total to 128,857 contracts. The pork carcass cutout value fell to $93.77 per cwt, led by the butt down $8.65 while ham gained. USDA estimated federally inspected hog slaughter at 2.593 million head for the week, 92,000 head above last week and 72,009 head below the same week last year. Feb 26: $87.375, +$0.075 Apr 26: $97.950, -$0.425 May 26: $101.275, -$0.225