Lean Hog futures are posting midday strength, as contracts are up 47 to 92 cents. The national average base hog negotiated price was not reported on Monday morning due to light volume, with the 5-day rolling average at $83.52. The CME Lean Hog Index was reported at $90.43 on November 7, back down 18 cents from the day prior.
Commitment of Traders data from Friday afternoon showed specs in lean hog futures and options expanding their record net long by 12,683 contracts to a net long position of 115,587 contracts.
USDA’s FOB plant pork cutout value was back lower in the Monday AM report, down 11 cents at $102.27 per cwt. The rib and belly were the only primals reported lower, with the latter the driver to the downside, $13.73 lower. USDA estimated last week’s FI hog slaughter at 2.605 million head through Saturday. That is 48,000 head below the previous week but 26,622 head above the same week last year.
Dec 24 Hogs  are at $81.350, up $0.925,
Feb 25 Hogs  are at $85.650, up $0.825
Apr 25 Hogs  is at $89.725, up $0.475,
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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