Lean hog futures fell mostly $1.45 to $2.97 in the nearbys on Monday. Preliminary open interest dropped 5,757 contracts, suggesting some long liquidation. July futures expire today. USDA’s national base hog price was reported at $109.58 on Monday afternoon, up $2.89 from the day prior. The CME Lean Hog Index was down 4 cents at $107.10 on July 10.
USDA’s FOB plant pork cutout value from the Monday PM report was back up 38 cents at $113.85. The butt primal was back down $8.53, with the belly up $5.40. Monday’s estimated hog slaughter was 477,000 head according to the USDA. That was 1,000 head below last Monday and 2,067 head above last year.
Jul 25 Hogs closed at $106.700, down $0.025,
Aug 25 Hogs closed at $103.225, down $1.450
Oct 25 Hogs closed at $87.675, down $2.975,
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.
