Hogs Showing Steady Trade on Monday
Lean hog futures are trading with steady action to 75 cent gains early on Monday. USDA’s national average base hog negotiated price was not reported on Monday morning, with the 5-day rolling average at $100.68. The CME Lean Hog Index was up 80 cents on June 5, at $98.37.
CFTC data from Friday afternoon showed large managed money speculators in lean hog futures and options increasing their net long by 7,086 contracts to 101,626 contracts as of June 3rd.
USDA’s FOB plant pork cutout value from the Monday morning was back down 68 cents at $110.83. The picnic, ham, and belly primals were all reported lower. Federally inspected hog slaughter for last week was estimated at 2.363 million head. That is down 52,772 head from the same week last year.
Jun 25 Hogs are at $102.700, up $0.075,
Jul 25 Hogs are at $107.100, up $0.000
Aug 25 Hogs is at $110.150, up $0.750,
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.