Lean hog futures posted are back to mixed action so far on Tuesday, with front months within 35 cents of unchanged. USDA’s national base hog price was not reported Tuesday morning due to low volume. The CME Lean Hog Index was back down 23 cents on Jan 2 at $81.62.
The large managed money spec funds were increasing their net long in hog futures and options as of 12/30 by 3,596 contracts to 78,921 contracts.
USDA’s pork carcass cutout value from the Tuesday AM report was $1.49 lower at $92.35 per cwt. The ham primal was the only reported higher. USDA estimated federal inspected hog slaughter for Monday at 498,000 head. That is 48,000 head above a week ago, and 52,392 head above the same week last year.
Feb 26 Hogs are at $85.825, down $0.325,
Apr 26 Hogs are at $91.625, up $0.125
May 26 Hogs are at $95.450, down $0.125,
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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