Lean hog futures closed 17 cents lower in the nearby August contract, as other months were up 27 to 65 cents. Preliminary open interest was up 3,446 contracts. USDA’s national base hog price had a weighted average of $111.35 in the Monday PM report, up $1.08 from the previous report. The CME Lean Hog Index was up 33 cents at $110.28 on July 24.
USDA’s Monday afternoon FOB plant pork cutout value was $0.57 lower at $118.29 per cwt. All primals except the butt were reported higher, led by a $7.64 gain in the belly. USDA estimated hog slaughter at 460,000 head for Monday. That was 13,000 head above last week but down 12,061 head from the same week last year.
Aug 25 Hogs closed at $108.525, down $0.175,
Oct 25 Hogs closed at $90.875, up $0.275
Dec 25 Hogs closed at $82.900, up $0.650,
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.
