Lean hog futures were under pressure on Monday, with contracts closing 27 cents to $1.22 lower. Open interest suggested net new selling, down 2,188 contracts on Monday. USDA’s national base hog price was not reported on Monday afternoon due to low volume. The CME Lean Hog Index was 19 cents higher on Feb 4 at $86.57.
USDA’s pork carcass cutout value from Monday afternoon report was $2.06 higher at $95.83 per cwt. The ham was the only primal reported lower, with the butt up $6.46. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That was 46,000 head above last week and 859 head above the same week last year.
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Feb 26 Hogs closed at $87.100, down $0.275,
Apr 26 Hogs closed at $96.725, down $1.225
May 26 Hogs closed at $100.375, down $0.900,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
