Lean hog futures are down a quarter to $2.02 so far on Tuesday. USDA’s national base hog price was not reported on Tuesday morning due to thin trade. The CME Lean Hog Index was back down 12 cents on July 2 at $91.55.
CFTC data showed managed money adding 1,807 contracts to their net short position as of June 30, taking it to 27,367 contracts.
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USDA’s pork carcass cutout value was $1.74 higher in the Tuesday AM report at $97.99. The loin, ham, and belly were the primals reported higher, led by the latter, up $10.63. USDA estimated federally inspected hog slaughter for Monday at 468,000 head. That was 16,000 head above the Monday prior and 2,896 head below the same Monday last year.
Jul 26 Hogs are at $93.100, down $0.250,
Aug 26 Hogs are at $96.500, down $2.025
Oct 26 Hogs are at $81.400, down $1.175,
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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