Hogs Look to Tuesday Following Monday Rally
Lean hog futures posted gains of 27 cents to $1.60 across the board on Monday. Open interest was up 708 contracts, suggesting a rotation of ownership, with 11,455 contracts rolling out of June. USDA’s national base hog price was not reported on Monday afternoon to thin trade. The CME Lean Hog Index was back down 23 cents on May 7 at $90.79.
USDA’s pork carcass cutout value from the Monday PM report was up 58 cents at $96.98 per cwt. The loin, ham, and belly primals were reported lower. USDA estimated federally inspected hog slaughter for Monday at 462,000 head. That is down 17,000 head from the previous Monday and 1,064 head above the same Monday last year.
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May 26 Hogs closed at $90.875, unch,,
Jun 26 Hogs closed at $100.225, up $1.600
Jul 26 Hogs closed at $104.650, up $1.450,
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.
