Lean hog futures are trading with gains of a tick to 75 cents. The national average base hog price was reported at $75.32 Monday morning, down $3.13s from the previous day. The CME Lean Hog Index was $84.36 on September 19, back down 2 cents from the day prior.
Commitment of Traders data tallied the spec funds in lean hog futures and options at a net long of 39,715 contracts as of September 17, a 2,003 contract addition on the week.
USDA’s FOB plant pork cutout value was down another 56 cents in the Monday AM report at $93.59 per cwt. The ham and loin were the only primals reported lower. USDA estimated FI hog slaughter 2.506 million head for the full week. That is down 59,000 head from the previous week and 40,648 head below the same week last year.
Oct 24 Hogs are at $82.250, up $0.025,
Dec 24 Hogs are at $74.825, up $0.600
Feb 25 Hogs is at $78.300, up $0.750,
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