Hog Rally Out of the Gates on Monday
Lean hog futures posted gains across the front months on Monday, as contracts were p 45 cent sot $1.10. USDA’s national base hog price was reported at $108.25 on Monday afternoon, up $1.52. The CME Lean Hog Index was up 15 cents at $110.25 on August 7.
USDA’s FOB plant pork cutout report from Monday PM was up $1.69 at $119.09 per cwt. The rib and ham were reported weaker, with the rest higher, led by the belly, up $8.52. USDA estimated hog slaughter at 482,000 head for Monday. That was 57,000 head above last week but down 2,430 head from the same week last year.
Aug 25 Hogs closed at $109.675, up $0.775,
Oct 25 Hogs closed at $91.775, up $1.100
Dec 25 Hogs closed at $84.225, up $0.450,
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.