Lean hog futures saw some strength on Monday, with contracts up 20 to 40 cents in the front months. Preliminary open interest rose 2,405 contracts on Monday. USDA’s national base hog price was reported at $105.67 in the Monday PM report, down $1.99 from the day prior. The CME Lean Hog Index was down 48 cents at $107.84 on August 21.
USDA’s FOB plant pork cutout report from Monday morning was up $1.28 at $114.17 per cwt. The rib and belly were the only primals reported lower, with the picnic up $7.36. USDA estimated hog slaughter for Monday at 455,000 head. That was 26,000 head below last week and down 20,636 head from the same Monday last year.
