Lean hog futures are trading at Monday’s midday with triple digit gains, as contracts are up $1 to $1.60. The national average base hog price was not reported on Monday morning due to light volume, with the 5-day rolling average at $83.82. The CME Lean Hog Index was $90.09 on August 15, down 11c ents from the previous day.
Specs in lean hog futures and options flipped back to a net short position by August 13 by 12,370 contracts to a net short of 2,269 contracts.
USDA’s FOB plant pork cutout value was back up 25 cents in the Monday AM report at $98.92 per cwt. The ham primal was the only reported lower. USDA estimated last week’s FI hog slaughter at 2.512 million head. That is 129,000 head above the previous week and 81,459 head larger than the same week last year.
Oct 24 Hogs are at $76.675, up $1.600,
Dec 24 Hogs are at $68.425, up $1.200
Feb 25 Hogs is at $72.050, 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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