Lean hog futures are easing back lower on Monday, with contracts down a tick to 42 cents in the nearbys. USDA’s national base hog prices from the Monday morning report were down $2.35 from the day prior at $101.86. The CME Lean Hog Index was back down 13 cents on September 25 at $104.83.
The Friday afternoon Commitment of Traders report showed managed money increasing their record net long position and lean hog futures and options by 186 contracts as of Tuesday, taking it to 142,444 contracts.
Cold Storage data showed pork stocks at the end of August the lowest since 2010 at 393.89 million lbs. That was a 2.65% drop from the end of July and 13.48% below last year.
USDA’s FOB plant pork cutout report from Monday morning was up 58 cents at $114.10 per cwt. The loin and rib primals were lower. USDA estimated federally inspected hog slaughter at 2.537 million head last week. That was down 15,000 head from last week and 18,081 head below the same week last year.
Oct 25 Hogs are at $101.075, down $0.425,
Dec 25 Hogs are at $90.650, down $0.400
Feb 26 Hogs is at $92.150, down $0.025,
