Hogs Rallying as Pork Explodes Higher

Lean hog futures are trading with gains of $1.67 to 2.30 at midday. USDA’s national base hog price was not reported on Tuesday morning due to thin volume. The CME Lean Hog Index was back down 54 cents on September 3 at $90.54.

The weekly update to the Commitment of Traders report showed managed money trimming 2,812 contracts from their net short position in the week ending on 9/1 at 28,323 contracts. 

USDA’s pork carcass cutout value was back up $7.31 in the Tuesday AM report, at $100.17. The picnic and rib were the only primals reported lower, with the belly back up $24.80. USDA estimated federally inspected hog slaughter for last week at 2.315 million head. That is 62,000 head below the previous week.

Oct 26 Hogs  are at $83.975, up $1.675,

Dec 26 Hogs  are at $74.775, up $2.300

Feb 27 Hogs are at $77.250, up $2.025,

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.