Lean hog futures are 65 cents to $1.425 in the red at midday. USDA’s national base hog price was not reported on Monday morning due to low volume. The CME Lean Hog Index was 19 cents higher on March 5 at $90.74.
Commitment of Traders data from Tuesday’s close showed managed money increasing their net long in lean hog futures and options by 7,053 contracts to 124,036 contracts.
USDA’s pork carcass cutout value from the Monday AM report was up $3.80 at $102.07 per cwt. All primals were reported higher. USDA estimated last week’s federally inspected hog slaughter at 2.497 million head. That is 19,000 head below last week but 95,953 head above the same week last year.
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.
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