Lean hogs are mixed on Monday, though front months are 42 cents to $1.07. The USDA National Base Hog price was reported at $83.84 on Monday morning, up $1.51 from the day prior. The CME Lean Hog Index was $89.71 on July 18, up 44 cents from the previous day.
USDA reported the Monday AM Pork Cutout Value $2.70 higher at $104.86. The loin and rib primals were reported lower, with the ham and belly leading the upward charge. USDA estimated Friday’s FI hog slaughter at 420,000 head, with the cyber outage having some affect on slaughter. The weekly total was 2.372 million head. That was 8,000 head above last week and 44,489 head larger than the same week last year.
Speculator/Managed Money funds in the CFTC Commitment of Traders report were net short 11,604 contracts of hog futures and options, down 192 contracts for the week ending July 16.
Aug 24 Hogs are at $92.200, up $0.625,
Oct 24 Hogs are at $75.625, up $1.075
Dec 24 Hogs is at $67.700, up $0.775,
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