Lean hog futures are trading with 50 to 85 cent gains at midday. The Tuesday morning national average base hog negotiated price was not listed due to light volume. The CME Lean Hog Index was another 72 cents higher on February 14 at $89.49
The large managed money speculators in the lean hog market were adding 7,297 contracts to their net long in futures and options as of 2/11. That position was 102,626 contracts as of Tuesday.
Tuesday morning’s USDA FOB plant pork cutout value was $1.65 lower at $100.82 per cwt. The picnic and rib primals were reported higher, with the rest reported lower. USDA’s Federally inspected hog slaughter for Monday was estimated at 490,000 head. That was 1,000 head below last week but up 6,006 head the same week last year.
Apr 25 Hogs are at $93.450, up $0.850,
May 25 Hogs are at $96.925, up $0.500
Jun 25 Hogs is at $105.350, up $0.675,
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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