Lean Hog futures are trading with gains of 80 cents to $1.25 at midday. USDA’s national base hog prices from Monday AM report was at $104.52, down 42 cents from the day prior. The CME Lean Hog Index was down 36 cents on September 18 at $105.34.
Managed money increased their net long position in lean hog futures and options by 7,835 contracts in the week ending on September 16th. By Tuesday, they held a record net long position of 142,258 contracts.
USDA’s FOB plant pork cutout report from Monday morning was up $1.74 at $113.79 per cwt. The rib and ham primals were the only reported lower. USDA estimated federally inspected hog slaughter last week at 2.593 million head. That was 85,000 head above last week and 75,977 head above the same week last year.
Oct 25 Hogs are at $98.800, up $0.825,
Dec 25 Hogs are at $88.875, up $1.250
Feb 26 Hogs is at $90.800, up $1.000,
