Lean hog futures are trading with contracts $1.55 to $2.85 at midday. The Monday morning national average base hog negotiated price from the USDA was reported at $87.67, down $2.03 from the day prior. The CME Lean Hog Index was back down 19 cents from the previous day at $89.55 on March 13.
Speculators in lean hog future and options cut back another 1,909 contracts from their net long as of March 11, taking that net long to 55,571 contracts as of Tuesday.
USDA’s FOB plant pork cutout was up $3.55 in the Monday AM report at $100.93 per cwt. The ham and rib primals were reported lower, with the belly leading the charge higher, up $16.22. USDA estimated last week’s Federally inspected hog slaughter at 2.515 million head. That is 97,000 head above last week and 59,009 head larger than the same week last year.
Apr 25 Hogs are at $88.175, up $1.550,
May 25 Hogs are at $91.425, up $2.225
Jun 25 Hogs is at $99.150, up $2.850,
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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