Hogs were mixed at the close on Monday, as the nearby contracts rallied 25 to 92 cents. The 2024 futures were 5 to 55 cents weaker widening the spread. August futures ended the month of July with a net $11.52 gain. USDA’s National Average Base Hog price was $1.24 higher to $101.71. The CME Lean Hog Index for 7/27 was $105.81, down by 3 cents.
Pork cutout futures were stronger on Monday with 20 cent to $1.07 gains. The National Pork Carcass Cutout Value increased $3.74 to $117.21, as bellies were $15.75 higher to $231.76 (just $10 under the record). USDA reported Monday’s FI hog slaughter at 476k head. That is 20k more than last week and compares to 412k head during the same Monday last year.
Aug 23 Hogs closed at $104.125, up $0.925,
Oct 23 Hogs closed at $86.000, up $0.975
Aug 23 Pork Cutout closed at $110.950, up $1.075,
On the date of publication, Alan Brugler 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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