Lean hogs are showing losses of 20 to 75 cents across most contracts on Monday. USDA’s National Average Base Hog negotiated price was not reported on Monday morning due to thin volume, with the 5-day rolling average now at $91.45. The CME Lean Hog Index was up just 4 cents on May 9 at $91.32.
Weekly Commitment of Traders data showed specs bailing on 20,208 contracts from their net long position to 65,171 contracts as of 5/7.
USDA’s National Pork Carcass Cutout Value was up another $1.58 in the Monday AM print at $101.35. The belly ($8.50) led the way higher, loin and the butt the only other two primals reported higher. USDA estimated last week’s federally inspected hog slaughter at 2.39 million head through Saturday. That is 17,000 head below last week but up 28,469 head from the same week last year.
May 24 Hogs are at $91.500, down $0.225,
Jun 24 Hogs are at $98.050, down $0.325
Jul 24 Hogs is at $100.800, down $0.650,
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