Hogs Showing Slight Gains with Pork Shooting Higher
Lean hogs are higher at midday, with gains of 35 to 82 cents on Monday. The CME Lean Hog Index was back up by a nickel from the previous day on February 27 at $89.44.
Managed Money speculators were slashing 23,656 contracts from their net long as of 2/25, taking the net long to 90,492 contracts.
The Monday morning FOB plant pork cutout value from USDA shot $7.06 higher at $105.48 per cwt. The belly led the charge higher, up $31.89, with the rib the only primal reported lower. USDA reported last week’s Federally inspected hog slaughter estimated at 2.538 million head. That is 16,000 head above last week and 12,533 head above the same week last year.
Apr 25 Hogs are at $84.025, up $0.350,
May 25 Hogs are at $88.250, up $0.825
Jun 25 Hogs is at $95.775, up $0.750,
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.