Lean hog futures posted losses of 77 cents to $2.60 on Monday. The USDA National Base Hog price reported at $86.64 on Monday afternoon, up 60 cents from the previous day. The CME Lean Hog Index was down another 23 cents at $90.32 on June 20. Typical seasonal strength has not been there this spring.
CFTC Commitment of Traders report showed the spec funds flipping their position by 6,393 contracts to a net short 222 contracts as of last Tuesday.
USDA’s Pork Cutout Value was lower in the Monday PM report, down $1.20 to $97.83. The rib, ham, and belly were the only primals reported higher. USDA estimated Monday’s FI hog slaughter at 473,000 head. That is up 14,000 head from a week ago and 10,503 head higher vs. the same week a year ago.
Jul 24 Hogs closed at $89.950, down $2.100,
Aug 24 Hogs closed at $86.725, down $2.600
Oct 24 Hogs closed at $74.075, down $2.250,
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