Hogs Pushing Higher as Pork Prices Rally
Lean hog futures are trading with contracts up 90 cents to $1.42 at midday. USDA’s national base hog price was reported at $78.52 on Monday morning, up $1.27 from the day prior. The CME Lean Hog Index was back down 51 cents on October 1 at $80.20.
Friday's Commitment of Traders report showed managed money in lean hog futures and options extending their record net short position by another 8,638 contracts in the week ending on Tuesday, taking it to 44,186 contracts.
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USDA’s pork carcass cutout value was back up $3.26 in the Monday AM report, $87.75. The butt primal was the only reported lower. Federally inspected hog slaughter for last week was estimated at 2.559 million head. That was 7,000 head above last week but 41,814 head below than the same week last year.
Oct 26 Hogs are at $77.875, unch,,
Dec 26 Hogs are at $71.025, up $0.900
Feb 27 Hogs are at $72.750, up $1.425,
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.
