Lean hog futures are trading with contracts 30 to 75 cents higher at midday. USDA’s national base hog price was reported at $89.61 on Monday morning, up 65 cents from the day prior. The CME Lean Hog Index was 36 cents higher on Feb 19 at $87.95.
Managed money cut 16,820 contracts from their large net long position in the week of 2/17, with the net long at 116,461 contracts.
USDA’s pork carcass cutout value from the Monday AM report was $2.26 higher at $97.87 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter for last week at 2.516 million head. That was 19,000 head below last week but 14,671 head shy of the same week last year.
Apr 26 Hogs are at $94.000, up $0.325,
May 26 Hogs are at $99.025, up $0.750
Jun 26 Hogs are at $108.475, up $0.650,
