Lean hog futures are mixed at midday, with most contracts within 30 cents of unchanged. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was back down 9 cents on March 19 at $91.95.
Friday’s CFTC Commitment of Traders report indicated a total of 11,151 contracts cut from the spec fund net long position in lean hog futures and options as of March 17. That took the net long to 116,553 contracts.
USDA’s pork carcass cutout value from the Monday AM report was back up 80 cents at $100.00 per cwt. The butt and ham were reported lower. USDA estimated last week’s federally inspected hog slaughter at 2.491 million head. That is 41,000 head below last week but 66,825 head above the same week last year.
Apr 26 Hogs are at $91.000, down $0.275,
May 26 Hogs are at $96.000, up $0.275
Jun 26 Hogs are at $104.750, up $0.275,
