Lean hog futures are posting 87 cent to $1.45 gains at midday. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was down 21 cents on July 30 at $98.23.
The weekly CFTC Commitment of Traders report showed managed money slashing 7,273 contracts from their previously near record net short position in the week of July 28. That took the net short to 10,884 contracts.
USDA’s pork carcass cutout value was up $2.44 in the Monday morning report, at $102.45. The butt primal was the only reported lower. USDA estimated federally inspected hog slaughter for the week to date total at 2.284 million head, through Saturday. That is 21,000 head above the previous week and 55,494 head shy of the same week last year.
Aug 26 Hogs are at $97.650, down $1.200,
Oct 26 Hogs are at $83.400, down $1.450
Dec 26 Hogs are at $74.800, down $0.875,
