Lean hog futures are trading $2 to $2.25 higher in the front months as Feb was up 80 cents. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was up another 6 cents on Jan 29 at $85.78.
CFTC data indicated managed money increasing their net long in lean hog futures and options by 16,388 contracts, taking it to 113,806 contracts as of Tuesday.
USDA’s pork carcass cutout value from Monday morning’s report was $2.43 higher to $96.65 per cwt. The loin and rib were the only primals reported lower. USDA estimated federally inspected hog slaughter last week at 2.522 million head. That was 54,000 head above last week but 37,861 head below the same week last year.
Feb 26 Hogs are at $88.050, up $0.800,
Apr 26 Hogs are at $97.200, up $2.050
May 26 Hogs are at $101.175, up $2.250,
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.
