Lean hog futures are down 25 cents in the April contracts, with other contracts up 20 to 75 cents. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was down another 28 cents on March 26 at $91.18.
Managed money was busy slashing their net long in the week ending on March 24 by 15,070 contracts, taking the position in lean hog futures and options to 101,483 contracts.
USDA’s pork carcass cutout value from the Monday morning report was up $1.89 at $98.45 per cwt. All primals were reported higher. USDA estimated last week’s federally inspected hog slaughter at 2.524 million head. That is 97,000 head above last week and 47,409 head larger than the same week last year.
Apr 26 Hogs are at $90.525, down $0.250,
May 26 Hogs are at $97.600, up $0.625
Jun 26 Hogs are at $106.325, up $0.200,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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