Hogs Posting Mixed Trade on Tuesday
Lean hog futures are showing 7 to 20 cent losses in nearbys on Tuesday, with other contracts posting gains. USDA’s national base hog price was not reported on Tuesday morning due to light volume. The CME Lean Hog Index was up another 76 cents on Jan 16 at $81.76.
Commitment of Traders data showed spec funds increasing their net long by just 766 contracts as of January 13, taking the lean hog net long to 82,624 contracts.
USDA’s pork carcass cutout value from the Tuesday AM report was 10 cents higher at $94.30 per cwt. The loin and picnic primals were the only reported lower. USDA estimated federally inspected hog slaughter for Monday at 426,000 head. That is 71,000 head below last Monday and 9,659 head above the same week last year.
Feb 26 Hogs are at $88.075, down $0.200,
Apr 26 Hogs are at $95.125, down $0.075
May 26 Hogs are at $99.225, up $0.500,
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.
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