Hogs Falling on Monday

Lean hog futures are trading with contracts steady to 77 cents lower on Monday. USDA’s national base hog price was not reported in the Monday morning report due to thin trade. The CME Lean Hog Index was down 73 cents on October 29 at $66.57.

Commitment of Traders data from Friday showed managed money in lean hog features and options increasing their record large net short position by 5,976 contracts as of Tuesday, taking it to 47,109 contracts.

USDA’s pork carcass cutout value was up $2.36 in the Monday AM report, at $72.46. The butt was the only primal reported lower. Federally inspected hog slaughter for last week was estimated at 2.608 million head. That was 2,000 head below last week but 28,897 head above of the same week last year.

Dec 26 Hogs  are at $58.100, down $0.775,

Feb 27 Hogs  are at $63.600, down $0.150

Apr 27 Hogs are at $69.500, unch,,

On the date of publication, Austin Schroeder did not directly have a position 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.