Lean hog futures are up 42 to 95 points so far on Monday. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was back down 3 cents at $109.80 on August 14.
The large managed money speculators in lean hog futures and options added back another 1,446 contracts to their net long position as of 8/12 to 110,732 contracts.
USDA’s FOB plant pork cutout report from Monday morning was up another $2.38 at $118.78 per cwt. The rib and picnic were lower, with the belly leading the charge higher, up $7.46. USDA estimated hog slaughter for the full week to date total at 2.417 million head. That was 67,000 head above last week but down 98,5454 head from the same week last year.
Oct 25 Hogs are at $90.525, up $0.425,
Dec 25 Hogs are at $83.850, up $0.825
Feb 26 Hogs is at $86.575, up $0.950,
