Lean hogs are trading with 15 to 65 cent losses so far on Monday. The national average base hog price was not reported on Monday morning, with the 5-day rolling average at $85.15. The CME Lean Hog Index was reported at $88.56 on October 31, up 63 cents from the day prior.
Commitment of Traders data showed spec fund money managers adding another 15,779 contracts to their net long in lean hog futures and options as of October 29. As of Tuesday, they were at a record net long of 102,905 contracts.
USDA’s FOB plant pork cutout value was up 81 cents from the day prior in the Monday AM report at $104.78 per cwt. The loin, butt, and picnic primals were reported higher, up $2.89 to $7.96, with the belly leading the downside charge, losing $8.41. USDA estimated the weekly FI hog slaughter at 2.653 million head. That is 60,000 head above the previous week on increased Saturday kill but 15,081 head above the same week
Dec 24 Hogs are at $83.425, down $0.650,
Feb 25 Hogs are at $85.575, down $0.450
Apr 25 Hogs is at $88.750, down $0.150,
On the date of publication, Austin Schroeder 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.
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