Lean hog futures are up 50 cents to 22 cents lower on Monday, showing mixed trade. USDA’s national base hog price was not reported on Monday morning due to thin volume. The CME Lean Hog Index was down another 44 cents on September 24 at $81.76.
Managed money extended their record net short in lean hog futures and options by 4,147 contracts in the week of 9/22, taking it to 35,548 contracts.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.The monthly Cold Storage report indicated pork stocks at the end of August at 436.27 million lbs, a 12.03% increase from a year ago and 0.81% below last month.
USDA’s pork carcass cutout value was back up 52 cents in the Monday morning report, at $87.26. The butt, rib, and belly primal were the only reported lower. Federally inspected hog slaughter for last week was estimated at 2.552 million head. That was 68,000 head above last week and 19,124 head larger than the same week last year.
Feb 27 Hogs are at $70.100, down $0.225,
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.
