Lean hog futures are up a nickel to 45 cents in the front months on Monday. USDA’s national base hog price was reported at $90.32 on Monday morning, down 28 cents from the day prior. The CME Lean Hog Index was up another penny on April 23 at $91.44.
Cold Storage data from Friday showed March 31 pork stocks at 411.28 million lbs, which was a 0.44% increase from a year ago and 2.09% above last year.
Commitment of Traders data showed managed money in lean hog futures and options slashing another 22,296 contracts from their net long as of April 21, taking it to 65,591 contracts.
USDA’s pork carcass cutout value from the Monday AM report was up 68 cents at $100.29 per cwt. The loin and picnic primals were the only reported lower. USDA estimated last week’s federally inspected slaughter at 2.469 million head. That is down 17,000 head from the previous week but 53,057 head above the same week last year.
May 26 Hogs are at $94.350, up $0.050,
Jun 26 Hogs are at $102.350, up $0.450
Jul 26 Hogs are at $105.100, up $0.200,
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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