Lean hogs are posting mixed trade so far on Monday, with front months within 15 cents of unch. The national average base hog price was reported at $76.42 on Monday morning, down 18 cents from the previous day. The CME Lean Hog Index was $84.03 on September 26, back down 4 cents from the day prior.
China released updated data on their hog herd, showing August 31 sow inventory at 40.4 million head. A 4.8% decline from last year.
Managed money was continuing to build their net long position in the lean hog futures and options market, this time by 11,890 contracts to 51,605 contracts as of last Tuesday.
USDA’s FOB plant pork cutout value up $1.04 in the Monday AM report at $96.79 per cwt. The rib and butt were the only primals reported lower, with the other 4 up by a range of $1.10 to $2.04. USDA estimated FI hog slaughter at 2.569 million head for last week. That is up 63,000 head from the previous week and 47,672 head above the same week last year.
Oct 24 Hogs are at $82.175, up $0.125,
Dec 24 Hogs are at $73.225, down $0.150
Feb 25 Hogs is at $77.475, down $0.025,
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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