Hogs Showing Firmer Monday Trade, as Pork Bounces

Lean hog futures are trading with gains of 45 to 85 cents so far on Monday. USDA’s national base hog price was not reported on Monday morning, due to light volume. The CME Lean Hog Index was down another 80 cents on October 8 at $77.61. 

CFTC data from Friday showed spec traders in lean hog futures and options slashing 8,914 contracts from their net short position in the week ending on October 6. That took their net short to 35,272 contracts as of Tuesday.

USDA’s pork carcass cutout value was up $4.72 in the Friday AM report, at $85.22. The rib was the only primal reported lower. Federally inspected hog slaughter for last week was estimated at 2.627 million head. That was 74,000 head above last week and 47,019 head larger than the same week last year.

Oct 26 Hogs  are at $75.500, up $0.450,

Dec 26 Hogs  are at $68.325, up $0.500

Feb 27 Hogs are at $70.100, up $0.850,

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.