Lean hog futures are mixed so far on Monday, with contracts anywhere from 20 cents higher in to 17 cents lower in the nearbys. The USDA daily direct hogs report was delayed due to packer submission issues this morning. The CME Lean Hog Index was $91.90 on August 8, down 90 cents from the previous day.
This month’s WASDE update showed US pork production at 24.048 billion lbs in 2024, a 91 million lb drop from last month.
The CFTC Commitment of Traders report showed managed money spec funds net long 10,101 hog futures and options contracts on August 6, an increase of 3,957 contracts vs. the previous week.
USDA’s FOB plant pork cutout value was up $2.20 in the Monday morning report, at $100.86 per cwt. The picnic and ham primals were lower, while belly was the strongest component of the day. USDA estimated the Friday FI hog slaughter at 445,000 head, with last week at 2.372 million head including a Saturday estimate of 84,000. That is down 83,000 head from last week and just 4,000 head above the same week a year ago.
Aug 24 Hogs are at $89.875, up $0.075,
Oct 24 Hogs are at $74.175, up $0.200
Dec 24 Hogs is at $66.125, down $0.175,
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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