Hogs Heading Lower on Monday

Lean hog futures are trading with mixed action. October is up a tick on expiration day, with other nearbys down $1 to $1.85. The national average base hog price was not reported on Monday morning, with the 5-day rolling average at $75.52. The CME Lean Hog Index was reported at $84.29 on October 10, down 18 cents from the day prior. 

Friday afternoon’s Commitment of Traders report showed managed money in lean hog futures and options adding 13,547 contracts as of 10/8. They held a net long position of 70,599 contracts by Tuesday, the largest since April.

USDA’s FOB plant pork cutout value was reported at $96.35 per cwt in the Friday AM release, up $1.88 from the day prior. The butt was the only primal reported lower, with the ham leading the way to the upside, $3.95 higher. USDA estimated the weekly FI hog slaughter at 2.584 million head. That is down 2,000 head from the previous week and 23,584 head below the same week last year.

Oct 24 Hogs  are at $84.100, up $0.025,

Dec 24 Hogs  are at $75.800, down $1.850

Feb 25 Hogs  is at $79.775, down $1.375,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.