Hogs Falling on Monday
Lean hog futures are falling $2 to $2.50 across the front months on Monday. USDA’s national base hog price was reported at $83.83 on Monday morning. The CME Lean Hog Index was down another 28 cents on September 9 at $87.94.
Managed money in lean hog futures and options cut another 4,767 contracts from their net short as of Tuesday, taking the position to -23,556 contracts
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USDA’s pork carcass cutout value was up 25 cents in the Monday AM report, at $90.05. The belly was the only reported lower, down another $11.36. USDA estimated federally inspected hog slaughter for last week at 2.269 million head, well below the same non-holiday week last year.
Oct 26 Hogs are at $79.275, down $2.250,
Dec 26 Hogs are at $70.175, down $2.525
Feb 27 Hogs are at $72.975, down $2.225,
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.
