Lean hog futures are trading with contracts 97 cents to $1.50 lower at midday. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was back down 11 cents on April 30 at $91.30.
CFTC data from Friday showed managed money slashing another 8,026 contracts from their net long in lean hog futures and options by Tuesday, taking the net long to 57,565 contracts.
USDA’s pork carcass cutout value from the Monday AM report was up 35 cents at $97.94 per cwt. The loin and ham primals were the only reported lower. USDA estimated federally inspected hog slaughter at 2.446 million head. That is down 23,000 head from the previous week but 30,311 head above the same week last year.
May 26 Hogs are at $91.850, down $0.975,
Jun 26 Hogs are at $99.950, down $1.325
Jul 26 Hogs are at $102.000, down $1.375,
