Lean hog futures are down 310 cents to $1.52 at midday. USDA’s national base hog price was reported at $96.01 on Monday morning, up $1.83 from the day prior. The CME Lean Hog Index was up 9 cents on June 4 at $92.60.
The weekly Commitment of Traders report from CFTC showed managed money in lean hog futures and options at their first net short position in nearly two years of 6,551 contracts, a flip of 19,536 contracts to the short side on that week.
USDA’s pork carcass cutout value from the Monday AM report was down 42 cents at $100.76 per cwt. The loin, butt, and picnic were the primals reported lower. USDA estimated federally inspected hog slaughter for last week at 2.428 million head. That is up 75,193 head from the same week last year.
Jun 26 Hogs are at $94.000, down $0.300,
Jul 26 Hogs are at $97.275, down $1.525
Aug 26 Hogs are at $96.350, down $0.875,
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.
