Hogs Back to Higher Trade on Monday
Lean hog futures are trading with 50 to 80 cent gains across most contracts on Monday. USDA’s national base hog report from Monday morning showed no price reported, due to light volume. The CME Lean Hog Index was up 10 cents on September 11 at $106.14.
The large managed money spec traders in lean hog futures and options added another 10,532 contracts to their now near record net long position of 134,423 contracts by Tuesday.
USDA’s FOB plant pork cutout report from Monday morning saw prices back up 19 cents at $114.70 per cwt. The belly primal was the only reported lower. USDA estimated federally inspected hog slaughter for last week at 2.514 million head. That is 62,414 head below the same week last year.
Oct 25 Hogs are at $97.925, up $0.800,
Dec 25 Hogs are at $89.250, up $0.625
Feb 26 Hogs is at $90.875, up $0.500,
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.