Lean hog futures are posting midday weakness on Monday of 27 cents to $1.25. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was down 15 cents on June 11 at $92.75.
Friday afternoon’s Commitment of Traders report indicated a total of 7,150 contracts added to the new managed money net short in lean hogs in the week of 6/9. That net short was 13,701 contracts on Tuesday.
USDA’s pork carcass cutout value from the Monday AM report was up $1.60 at $98.99 per cwt. The butt and picnic primals were the only reported lower, with the butt up $9.17. USDA estimated federally inspected hog slaughter for last week at 2.402 million head. That is down 20,000 head from last week and 31,146 head above the same week last year.
Jul 26 Hogs are at $97.150, down $0.300,
Aug 26 Hogs are at $96.075, down $0.275
Oct 26 Hogs are at $80.250, down $1.125,
