Lean hog futures posted gains of $1.47 to $1.75 across most contracts on Monday, with front month February up 50 cents. Preliminary open interest was up 4,317 contracts on Monday. USDA’s national base hog price was reported at $82.22 on Monday afternoon, down $1.35 from the day prior. The CME Lean Hog Index was up another 6 cents on Jan 29 at $85.78.
USDA’s pork carcass cutout value from Monday afternoon’s report was $1.48 higher to $95.70 per cwt. The ham was the only primal reported lower. USDA estimated federally inspected hog slaughter on Monday was 461,000 head. That was 35,000 head above last Monday but 15,393 head below the same week last year.
Feb 26 Hogs closed at $87.750, up $0.500,
Apr 26 Hogs closed at $96.625, up $1.475
May 26 Hogs closed at $100.625, up $1.700,
