Lean hog futures are posting gains of 25 cents to $2.50 at midday. USDA’s national base hog price was not reported on Monday morning due to light trade. The CME Lean Hog Index was down another 16 cents on April 2 at $90.01.
Managed money was busy cutting 7,275 contracts from their net long in lean hog futures and options as of March 31, taking it to 94,208 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up 80 cents at $99.75 per cwt. The ham and loin primals were the only reported lower. USDA estimated last week’s federally inspected hog slaughter at 2.396 million head. That was 116,000 head below the previous week and 113,486 head larger than the same week last year.
Apr 26 Hogs are at $90.600, up $0.250,
May 26 Hogs are at $98.250, up $2.250
Jun 26 Hogs are at $106.975, up $2.500,
