Hogs Pushing Higher on Tuesday
Lean hog futures are continuing to push higher, with midday gains of 30 to 67 cents across the front months. USDA’s national base hog report showed negotiated prices not reported on thin volume with a 5-day rolling average at $108.77. The CME Lean Hog Index was down 26 cents on August 27 at $106.17.
The Friday afternoon Commitment of Traders report showed speculators adding 8,274 contracts to their net long position and lean hog futures and options as of Tuesday. By August 26th, that net long was 114,042 contracts.
USDA’s FOB plant pork cutout report from Tuesday morning was up 97 cents at $115.29 per cwt. The loin and picnic were the only primals reported lower. USDA estimated hog slaughter for last week’s total at 2.391 million head. That was 19,000 head below last week and down 36,648 head from the same week last year.
Oct 25 Hogs are at $95.325, up $0.300,
Dec 25 Hogs are at $88.075, up $0.675
Feb 26 Hogs is at $90.100, up $0.475,
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.