Hogs Posting Mixed Trade Out of the Long Weekend
Lean hog futures are posting mixed trade on Tuesday, with nearby June up 37 cents another nearbys down a dime. USDA’s national average base hog negotiated price was not reported on Tuesday morning, with the 5-day rolling average at $95.58. The CME Lean Hog Index was up another 19 cents on May 22, at $92.94.
Cold Storage data showed 455.803 million lbs of pork in cooler at the end of April. That was the lowest since 2004, a drop of 8.71% from last year, but up 11.32% from March.
Specs in lean hog futures and options added another 10,658 contracts to their net long position in the week ending on Tuesday. That net long was 91,744 contracts as of May 20.
USDA’s FOB plant pork cutout value from Friday afternoon was reported at $104.37, back up $2.91. The rib was the only primal reported lower, with the belly up $2.91. Federally inspected hog slaughter for last week was estimated at 2.362 million head by the USDA. That is down 38,000 head from the previous week and 9,081 head above the same week last year.
Jun 25 Hogs are at $98.675, up $0.375,
Jul 25 Hogs are at $101.450, down $0.100
Aug 25 Hogs is at $101.175, down $0.100,
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.