Lean hog futures are mixed with July up a tick and other contracts down 50 cents. USDA’s national base hog price was not reported on Monday morning due to low volume. The CME Lean Hog Index was 34 cents higher on July 9 at $92.69.
The weekly CFTC Commitment of Traders report showed managed money adding another 1,635 contracts to their near net short position in the week of July 7. That took the net short to 29,002 contracts.
USDA’s pork carcass cutout value was 51 cents lower in the Monday morning report at $100.83. The loin butt, and belly primals were reported lower. USDA estimated federally inspected hog slaughter for last week at 2.369 million head. That is 395,000 head above the week prior due to the holiday and 29,253 head above the same week last year.
Jul 26 Hogs are at $94.800, up $0.025,
Aug 26 Hogs are at $98.800, down $0.200
Oct 26 Hogs are at $84.650, down $0.425,
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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