Lean hogs are down 12 to 65 cents across most contracts on Monday. The USDA National Base Hog price was reported at $82.59 on Monday morning, down $1.14 from the day prior. The CME Lean Hog Index was $88.38 on July 11, back down 27 cents from the previous day.
Lean hog spec traders added 2,568 contracts of futures and options as of July 9 to their CFTC net short, putting it at 11,412 contracts by last Tuesday.
China’s pork production during the second quarter was 13.98 MMT down 3% from the year prior. Total hog slaughter during the first half of the year were 363.95 million head, down 3.1% from in 2023.
USDA reported the Monday AM Pork Cutout Value 19 cents higher at $98.65. The ham and butt primals were the only reported lower. USDA estimated this week’s FI hog slaughter at 2.386 head. That was well above last week and 47,632 larger than the same week last year.
Jul 24 Hogs are at $88.750, up $0.050,
Aug 24 Hogs are at $88.275, down $0.175
Oct 24 Hogs is at $69.500, down $0.650,
On the date of publication, Alan Brugler 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.
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