Lean hog futures were up 65 to 85 cents across most contracts on Monday. New buying interest was noted, up 1,617 contracts. USDA’s national base hog price was reported at $67.16 on Monday afternoon, down 29 cents from the day prior. The CME Lean Hog Index was down 15 cents on December 18 at $83.73.
NASS will release their quarterly Hogs & Pigs report this afternoon, with analysts looking for December 1 hog inventory down 0.9% from last year. Hogs kept for breeding are seen down 0.9%, with market hogs expected to be down 0.8%.
