Lean hog futures are showing mixed action on Monday, with October down a tick and December up 35 cents. USDA’s national base hog price had a weighted average of $109.02 in the Monday AM report, down 24 cents from the previous report. The CME Lean Hog Index was up 33 cents at $110.28 on July 24.
Monthly Cold Storage data from USDA showed a total of 422.29 million lbs of pork stocks on hand as of June 30. That was down 6.32% from May and 11.1% below last year.
Weekly CFTC data showed managed money trimming another 4,186 contracts from their net long position as of Tuesday to 110,407 contracts.
USDA’s Monday morning FOB plant pork cutout value was $2.20 higher at $121.06 per cwt. All primals except the butt were reported higher, led by a $7.64 gain in the belly. USDA estimated hog slaughter at 2.338 million head for last week’s total. That was 4,000 head below last week and down 100,899 head from the same week last year.
Aug 25 Hogs are at $108.700, up $0.000,
Oct 25 Hogs are at $90.575, down $0.025
Dec 25 Hogs is at $82.600, up $0.350,
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.
