Lean Hogs Futures Market News and Commentary
Hogs Higher on MondayLean hog futures were up 30 to 97 cents on Monday. October was trying to close a large discount to August, with contacts up $1.90. The USDA’s National Average Base Hog price was $127.48 on Monday afternoon down $1.59 from the previous day. The 8/4 CME Lean Hog Index was another 48 cents higher to $122.09.
Front month pork cutout futures were up 70 cents. USDA’s National Pork Carcass Cutout value for Monday afternoon was 97 cents lower to $124.06. The belly and ham were the weight on the cutout. Federally inspected hog slaughter for monday was estimated at 458,000 head. That is 50,000 had above last week and 2,000 head larger than the same week last year.
Aug 22 Hogs closed at $121.800, up $0.975,
Oct 22 Hogs closed at $100.300, up $1.900
Aug 22 Pork Cutout closed at $126.175, up $0.700,