Hogs Post Gains on Monday, as Specs Build Net Long
Lean hog futures posted 60 to 85 cent gains on Monday. USDA’s national base hog price was reported at $109.35 on Monday afternoon, down $1.11 from the previous day. The CME Lean Hog Index was up $1.19 at $108.78 on June 19.
The weekly CFTC Commitment of Traders report was delayed until this afternoon due to last Thursday's holiday. The data showed speculators in lean hog futures and options adding 11,632 contracts to a near record net long position of 129,850 contracts as of June 17th.
USDA’s FOB plant pork cutout value from Monday morning was up another 64 cents at $122.78. The ham and belly ($5.08) were the only primals reported higher. Federally inspected hog slaughter for Monday was estimated at 465,000 head by USDA, down 13,000 head from last week but up 655 head from the same Monday last year.
Jul 25 Hogs closed at $113.450, up $0.675,
Aug 25 Hogs closed at $113.050, up $0.600
Oct 25 Hogs closed at $96.875, 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.