Hogs Marginally Higher at Midday
Lean hog futures are showing 15 to 25 cent gains in the nearby contracts on Monday. The national average base hog price was reported at $74.57 on Monday morning, up $2.54 from the previous day. The CME Lean Hog Index was reported at $83.96 on October 17, up 12 cents from the day prior.
CFTC showed spec funds in lean hog futures and options adding another 4,388 contracts to their net long position as of October 15 to 74,987 contracts.
USDA’s FOB plant pork cutout value was reported at $98.34 per cwt in the Monday AM release, up $1.75 from the day prior. Just the belly was reported lower, down $5.83, with the other 5 primals up in a range of $1.79 to $4.94. USDA estimated the weekly FI hog slaughter at 2.613 million head through last Saturday. That is up 29,000 head from the previous week but down 2,899 head from the same week last year.
Dec 24 Hogs are at $78.000, up $0.175,
Feb 25 Hogs are at $82.075, up $0.225
Apr 25 Hogs is at $85.825, 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.