Lean hog futures are trading with gains of a tick to 40 cents at midday. USDA’s national base hog price was reported at $86.04 on Monday morning, down $6.05 from the day prior. The CME Lean Hog Index was another 16 cents higher on March 12 at $91.60.
Managed money added 3,668 contracts to their net long in lean hog futures and options as of March 10, taking the net long to 127,704 contracts.
USDA’s pork carcass cutout value from the Monday AM report was up $1.92 at $102.11 per cwt. All primals were reported higher. USDA estimated the weekly federally inspected hog slaughter at 2.532 million head last week. That is 44,000 head above last week and 31,000 head above the same week last year.
Apr 26 Hogs are at $93.650, up $0.200,
May 26 Hogs are at $98.800, up $0.400
Jun 26 Hogs are at $107.400, up $0.025,
