Lean hog futures are mixed so far on Monday, with contracts down 82 to 22 cents higher. USDA’s national base hog report from Monday morning showed no price action on low volume. The CME Lean Hog Index was back down a nickel on September 4 at $105.92.
Managed money spec traders increased their large net long position and lean hog futures and options by 9,849 contracts as of Tuesday, taking it to 123,891 contracts.
USDA’s FOB plant pork cutout report from Monday morning was up another $1.25 at $117.12 per cwt. The butt was the only primal reported lower. USDA estimated federally inspected hog slaughter for last week at 2.319 million head. That is just 73,000 head below last week despite the Monday holiday (increased Saturday kill), and 10,979 head below the same holiday week last year.
Oct 25 Hogs are at $95.200, down $0.825,
Dec 25 Hogs are at $88.175, down $0.150
Feb 26 Hogs is at $90.600, up $0.225,
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.
