Hogs Mixed at Midday
Lean hogs are mixed on Monday, with contracts anywhere from 67 cents lower to 15 cents higher. USDA’s National Average Base Hog negotiated price was not reported this morning due to light volume, with the 5-day rolling average at $90.45. The CME Lean Hog Index was back down 55 cents on April 25 at $90.88.
The weekly Commitment of Traders report last Friday showed managed money spec funds in hogs were adding back to their net long position by 5,742 contracts as of 4/23. They held a net long of 92,387 contracts on that Tuesday.
USDA’s National Pork Carcass Cutout Value shot higher in the Monday morning report, up $7.09 to $104.72. The ham was up $7 this morning, with belly up $31.99, as the picnic and rib primals were reported lower. USDA estimated last week’s federally inspected hog slaughter at 2.379 million head, down 112,000 from last week. Slaughter YTD is up 0.6%.
May 24 Hogs are at $94.150, down $0.125,
Jun 24 Hogs are at $102.550, up $0.075
Jul 24 Hogs is at $105.275, down $0.675,
On the date of publication, Alan Brugler 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.
