Lean hog futures are up 50 cents to $1, with May down 22 cents. USDA’s national base hog price was not reported on Monday morning to thin trade. The CME Lean Hog Index was back down 23 cents on May 7 at $90.79.
Commitment of Traders data showed a total of 6,483 cut from the managed money net long position in lean hog futures and options as of Tuesday. That took the net long to 51,082 contracts.
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USDA’s pork carcass cutout value from the Monday AM report was up $1.23 at $98.79 per cwt. The loin and belly primals were the only reported lower. USDA estimated federally inspected hog slaughter for last week at 2.446 million head. That is up 4,000 head from the previous week and 18,415 head above the same week last year.
May 26 Hogs are at $90.650, down $0.225,
Jun 26 Hogs are at $99.625, up $1.000
Jul 26 Hogs are at $103.875, up $0.675,
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.
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