
Lean hog futures are trading with 15 to 35 cent gains so far on Tuesday. The national average base hog negotiated price was reported at $86.57 on Tuesday morning. The CME Lean Hog Index was reported at $84.36 on November 29, down another 85 cents from the previous day.
The large managed money spec traders in lean hog futures and options added 9,171 contracts to their now record net long as of 11/26. They took the record exposure to 124,761 contracts by last Tuesday.
USDA’s FOB plant pork cutout value reported lower on Tuesday AM, down $2.61 at $91.45 per cwt. The rib, ham, and belly primals were reported lower, with the belly leading the way down $5.32. USDA estimated Monday’s FI hog slaughter at 489,000 head. That was even with last Monday and up 2,227 head from the same Monday last year.
Dec 24 Hogs are at $83.525, up $0.300,
Feb 25 Hogs are at $88.275, up $0.325
Apr 25 Hogs is at $92.625, up $0.150,
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.