Hogs Mostly Higher on Monday
Lean hog futures are mixed on Monday, with the October contract down 12 cents and the rest of the nearbys up $1 to $1.10.. The national average base hog price was not reported on Monday morning, with the 5-day rolling average at $77.32. The CME Lean Hog Index was reported at $84.83 on October 3, back down 7 cents from the day prior.
Managed money in lean hogs added another 5,447 contracts to their net long as of 10/1 at 57,052 contracts.
China pegs their August hog slaughter at 24.4 million head, which is a drop of 8% from the same month last year
USDA’s FOB plant pork cutout value was reported at $96.48 per cwt in the Monday AM release, up $2.17 from the day prior. The rib and ham were the only primals reported lower. USDA estimated FI hog slaughter for last week at 2.586 million head. That is up 34,000 head from the previous week and 11,431 head above the same week last year.
Oct 24 Hogs are at $83.900, down $0.125,
Dec 24 Hogs are at $77.250, up $1.100
Feb 25 Hogs is at $80.875, up $1.050,
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.