Lean hog futures are trading with Monday gains of 65 cents to $1. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was down 11 cents at $110.21 on July 31.
Commitment of Traders data indicated a total of 2,821 contracts trimmed from the managed money net long as of July 29. That net long was taken to 107,586 contracts by Tuesday.
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USDA’s FOB plant pork cutout report from Monday morning was back up $2.19 at $119.13 per cwt. The butt primal was the only reported lower, with the ham leading the charge higher, up $6.85. USDA estimated hog slaughter at 2.336 million head for last week. That was 6,000 head above last week but down 6,879 head from the same week last year.
Aug 25 Hogs are at $108.200, up $0.850,
Oct 25 Hogs are at $90.725, up $0.675
Dec 25 Hogs is at $83.350, up $1.000,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
