Hogs Falling on Monday
Lean hog futures are up a tick in July, which expires on Tuesday, with other contracts falling $1.15 to $2.30 in the nearbys. USDA’s national base hog price was not reported on Monday morning, due to light volume. The CME Lean Hog Index was down 4 cents at $107.10 on July 10.
CFTC data showed the large managed money speculators in lean hog futures and options trimming 2,788 contracts from their net long position as of Tuesday. They took that net position to 131,799 contracts as of July 8.
USDA’s FOB plant pork cutout value from the Monday AM report was back up $1.73 at $115.20. The butt primal was back down $8.12, with the belly up $9.06. Last week’s estimated hog slaughter was 2.371 million head according to the USDA. That was well above last week and 1,838 head above last year.
Jul 25 Hogs are at $106.750, up $0.025,
Aug 25 Hogs are at $103.525, down $1.150
Oct 25 Hogs is at $88.350, down $2.300,
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.
