Hogs Mixed on Monday’s Midday
Lean hog futures are trading on either side of unchanged on Monday, with contracts up 5 to 20 cents in the nearbys and down in other contracts. Monday morning’s USDA national average base hog negotiated price was reported at $88.96, down $1.29 from the day prior. The CME Lean Hog Index was back down 69 cents on February 20 at $90.53.
Commitment of Traders data from Friday afternoon showed a total of 11,522 contracts added to the spec fund net long in lean hog futures and options as of 2/18. That took the net position to 114,148 contracts, the largest since late December.
USDA’s FOB plant pork cutout value was up another $1.84 at $98.91 per cwt. The rib was the only primal reported lower, with the rest higher. USDA’s Federally inspected hog slaughter for last week was estimated at 2.536 million head. That is 7,000 head above last week but down 40,946 head from the same week last year.
Apr 25 Hogs are at $87.725, up $0.050,
May 25 Hogs are at $92.150, up $0.200
Jun 25 Hogs is at $100.275, down $0.350,
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.More news from Barchart
