Lean hog futures will resume trade this morning following the Monday President’s Day holiday. Futures closed Friday with most contracts down 50 to 75 cents, as expiring February was up 20 cents. Preliminary open interest continued to show long liquidation, down 3,791 contracts on Friday. April fell $6.67 last week. USDA’s national base hog price was reported at $85.24 on Monday afternoon, up 2 cents from the day prior. The CME Lean Hog Index was 37 cents higher on Feb 11 at $86.89.
CFTC data as of last Tuesday pegged managed money net long 133,281 contracts, a 4,424 contract increase in the week.
USDA’s pork carcass cutout value from the Monday AM report was $1.69 higher at $96.85 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter for Monday at 461,000 head. That was 24,000 head below last week and 21,888 head shy of the same week last year.
Feb 26 Hogs closed at $86.950, up $0.200,
Apr 26 Hogs closed at $91.275, down $0.550
May 26 Hogs closed at $95.300, down $0.750,
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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