Hogs Popping Higher on Monday
Lean hog futures are up 40 cents to $1.35 at midday. USDA’s national base hog price was $80.47 in the Monday AM report, down $1.30 from the day prior. The CME Lean Hog Index was down another $1 on September 14 at $84.02.
Managed money added back 7,845 contracts to a new record net short position in lean hog futures and options in the week of 9/15, taking it to 31,401 contracts.
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USDA’s pork carcass cutout value was back up $2.33 in the Monday morning report, at $89.31. The butt and picnic were the only primals reported lower. Federally inspected hog slaughter for the week was estimated at 2.49 million head, including Saturday. That was 102,381 head below the same week last year.
Oct 26 Hogs are at $78.500, up $0.400,
Dec 26 Hogs are at $69.900, up $1.350
Feb 27 Hogs are at $71.400, up $1.250,
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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