Hogs Look to Tuesday Trade
Lean hog futures were weaker at the Monday close, with contracts steady to 37 cents lower, as October was up 25 cents. Open interest was up 3,075 contracts. USDA’s national base hog price was reported at $89.40 on Monday afternoon, down $4.87 from the previous day. The CME Lean Hog Index was down another 46 cents on August 20 at $93.26.
USDA released Cold Storage data on Monday, showing pork stocks at 439.43 million lbs at the end of July. That was a 3.43% decline from June but up 8.6% from a year ago.
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USDA’s pork carcass cutout value was back up $1.97 in Monday’s AM report, at $99.89. The butt and ham were the only primals reported lower, with the belly leading the charge higher, up $8.70. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That is 6,000 head above the previous week and up 48,244 head from the same week last year.
Oct 26 Hogs closed at $81.125, up $0.250,
Dec 26 Hogs closed at $71.475, down $0.050
Feb 27 Hogs closed at $74.425, down $0.000,
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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