Lean hog futures are down 12 cents to $1.30 so far on Tuesday. USDA’s national base hog price was not reported on Tuesday morning due to low volume. The CME Lean Hog Index was down 19 cents on May 21 at $90.88
CFTC data showed managed money cutting back another 7,147 contracts from their net long position in the week ending on 5/19 to 33,713 contracts.
Pork stocks were tallied at 435.79 million lbs at the end of April according to Cold Storage data. That was down 4.47% from last year, but an 8.7% increase from the end of March.
USDA’s pork carcass cutout value from the Tuesday morning report was up $3.39 at $99.65 per cwt. The loin and rib primals were the only reported lower. USDA estimated federally inspected hog slaughter for last week at 2.321 million head. That is down 38,000 head from the previous week and 35,490 head below the same week last year.
Jun 26 Hogs are at $95.625, down $0.125,
Jul 26 Hogs are at $99.750, down $0.650
Aug 26 Hogs are at $98.775, down $1.300,
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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