Lean hog futures are trading with 22 cent to $1.02 higher trade so far on Monday. The national average base hog price was reported at $75.00 on Monday morning down 94 cents from the previous day. The CME Lean Hog Index was $84.87 on September 12, down 48 cents from the day prior.
Commitment of Traders data showed the managed money crowd trimming 1,348 contracts from their net long position as of September 10 to 37,712 contracts.
USDA’s FOB plant pork cutout value was back up $1.09 in the Monday AM report at $94.99 per cwt. The ham was the only primal reported lower, down $4.13. USDA estimated FI hog slaughter at 2.571 million head for last week. That is well above the previous non-holiday week and 35,533 head larger than the same week last year.
Oct 24 Hogs are at $79.475, up $1.025,
Dec 24 Hogs are at $71.900, up $0.600
Feb 25 Hogs is at $75.200, up $0.225,
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.
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