Lean hog futures saw slight gains of 25 to 65 cents on Tuesday. Open interest suggested new buying interest, up 5,409 contracts. USDA’s national base hog price was reported at $69.43 on Tuesday afternoon, up $2.27 from the day prior. The CME Lean Hog Index was down 2 cents on December 19 at $83.71. The CME will close early today, with no trade on Thursday.
NASS released their quarterly Hogs & Pigs report on Tuesday afternoon, with December 1 hog inventory at 75.55 million head, up 0.63% from last year. December 1 market hogs were up 0.75% at 69.59 million head, with hogs kept for breeding down 0.87% to 5.952 million head.
