Lean hog futures are trading with 35 cent gains in the December contract with other contracts slightly lower. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was down 2 cents on December 4 at $81.81.
Commitment of Traders data from Friday afternoon showed managed money slashing 22,070 contracts from their net long in lean hog futures and options as of October 28. That took the net long to 95,161 contracts.
Export Sales data showed 30,745 MT of pork sold in the week ending on 11/6. Export Shipments were 31,750 MT, the largest since June.
USDA’s pork carcass cutout value from the Monday AM report was down 25 cents to $96.14 per cwt. The rib, ham, and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter for last week at 2.702 million head. That was 98,210 head above the week last year.
Dec 25 Hogs are at $82.000, up $0.350,
Feb 26 Hogs are at $82.250, down $0.025
Apr 26 Hogs is at $86.725, down $0.050,
