Lean hog futures are trading with 20 to 40 cent gains across most contracts on Monday. USDA’s national base hog price was reported at $106.67 in the Monday AM report, down $1.22 from the day prior. The CME Lean Hog Index was down 48 cents at $107.84 on August 21.
USDA’s monthly Cold Storage report showed a total of 404.583 million lb of pork stocks as of July 31, the lowest since 2010. That was a drop of 10.76% from last year and 3.37% below June.
CFTC data showed a total of 4,964 contracts cut from the net long position in lean hog futures and options as of August 19, taking it to 105,768 contracts.
USDA’s FOB plant pork cutout report from Monday morning was up $2.64 at $115.53 per cwt. The rib was the only primal reported lower, with the picnic up $8.75. USDA estimated hog slaughter for last week at 2.419 million head. That was 11,000 head above last week and down 88,446 head from the same week last year.
Oct 25 Hogs are at $91.425, up $0.225,
Dec 25 Hogs are at $84.750, up $0.375
Feb 26 Hogs is at $87.525, up $0.400,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
