Hogs Higher on Monday
Lean hog futures posted nearby gains of 55 to 62 cents on Monday. The national average base hog negotiated price was reported at $79.14 on Monday afternoon, up 14 cents from the day prior. The CME Lean Hog Index was reported at $80.43 on January 9, down 16 cents from the previous day.
Commitment of Traders data was delayed to Monday, with managed money slashing another 11,751 contracts from their net long in the week that ended on January 7. That was mainly via long liquidation, as the net long was backed off to 97,190 contracts.
USDA’s FOB plant pork cutout value was $1.16 lower in the Monday PM report at $90.20 per cwt. The loin, butt, and belly primals were both reported lower. Federally inspected hog slaughter for Monday was 486,000 head. That is 39,000 head larger than last Monday and 105,427 head above the same Monday last year.
Feb 25 Hogs closed at $83.175, up $0.625,
Apr 25 Hogs closed at $89.300, up $0.625
May 25 Hogs closed at $94.075, up $0.550,
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.