Lean hog futures are showing 15 to 62 cent gains in the front months on Monday. 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 April 16 at $90.51.
Managed money slashed another 10,174 contracts from their net long in lean hog futures and options as of 4/14, taking it to 87,887 contracts.
USDA’s pork carcass cutout value from the Monday AM report was back up $1.86 at $101.06 per cwt. The butt and rib primals were the only reported lower. USDA estimated last week’s federally inspected hog slaughter at 2.502 million head. That was 30,000 head above the previous week and 134,777 head above the same week last year.
May 26 Hogs are at $94.025, up $0.625,
Jun 26 Hogs are at $101.625, up $0.575
Jul 26 Hogs are at $103.825, up $0.150,
