Lean hog futures closed Monday trade with contracts 55 to 70 cents higher, as February was down a nickel. Open interest was down 1,590 contracts in the February contract, with others showing new buying interest, up a combined 6,278. USDA’s national base hog price was reported at $83.25 on Monday afternoon, down 31 cents. The CME Lean Hog Index was up another 55 cents on Jan 22 at $83.62.
USDA’s pork carcass cutout value from the Monday PM report was $1.51 higher at $97.26 per cwt. The butt and ham primals were reported lower, with the rib up $5.97. USDA estimated federally inspected hog slaughter for Monday at 426,000 head. That is 5,000 head above last week but 5,345 head below the same week last year.
On the date of publication,
Austin Schroeder
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