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Pork Future: Hogs End Mixed

by 5m Editor
16 February 2008, at 11:46am

CHICAGO - CME lean hog futures closed mixed but mostly higher at the closing bell Friday in a lightly traded session.

Expectations of seasonally lighter hog supplies in the weeks and months ahead are considered supportive for futures, but the market already has premiums built in so traders are taking a wait-and-see approach into next week, an analyst said.

The deferred August through February 2009 contracts are mixed amid further gains in corn prices on uncertainty that higher feed costs could lead to liquidation of breeding animals, traders said.

April hogs are down 10 points at 64.20 cents per pound and May is down 42 points at 73 cents. Bellies are higher on short-covering following sharp declines the previous two days. March bellies are up 117 points at 93.17 cents and May bellies are 90 points higher at 94.30 cents.

Source: FXstreet.com

5m Editor