Lean hog futures are trading with 75 to 90 cent gains in the nearbys on Tuesday. USDA’s national base hog price was down $3.09 in the Tuesday morning report at $69.91. The CME Lean Hog Index was up 19 cents on December 12 at $82.99.
Commitment of Traders data for November 25 showed managed money cutting back another 7,795 contracts from their net long in lean hog futures and options, to a net long of 50,193 contracts.
USDA’s pork carcass cutout value from the Monday PM report was 47 cents lower to $98.42 per cwt. The rib and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Monday at 496,000 head. That was 8,000 head above last Monday and 9,327 head above the same Monday last year.
Feb 26 Hogs are at $84.600, up $0.750,
Apr 26 Hogs are at $89.700, up $0.775
May 26 Hogs is at $93.375, up $0.875,
