Lean hog futures are trading with 50 to 70 cent gains on Monday, with nearby Feb up 7 cents. USDA’s national base hog price was not reported this morning on no volume. The CME Lean Hog Index was up another 55 cents on Jan 22 at $83.62.
Monthly Cold Storage data showed pork stocks on December 31 at 390.55 million lbs, which was down 1.5% from last year and the lowest December since 1997
Commitment of Traders data showed managed money in lean hog futures and options increasing their net long by 14,794 contracts as of 1/20. That net long was the largest since October at 97,418 contracts on Tuesday.
USDA’s pork carcass cutout value from the Monday AM report was $1.62 higher at $97.37 per cwt. All primals were reported higher, with the rib up $6.52. USDA estimated federally inspected hog slaughter for last week at 2.484 million head. That is 139,000 head below last week but 10,192 head above the same week last year.
Feb 26 Hogs are at $88.275, down $0.075,
Apr 26 Hogs are at $96.850, up $0.675
May 26 Hogs are at $100.150, up $0.600,
