Lean hog futures were mixed on Monday, with contracts down 50 cents to 90 cents higher at the close. USDA’s national base hog price was not reported on Monday afternoon due to thin trade. The CME Lean Hog Index was back up 19 cents on July 1 at $91.67.
CFTC data showed managed money adding 1,807 contracts to their net short position as of June 30, taking it to 27,367 contracts.
USDA’s pork carcass cutout value was 19 cents higher in the Monday PM report at $96.25. The loin and butt were the only primals reported higher. USDA estimated federally inspected hog slaughter for Monday at 468,000 head. That was 16,000 head above the Monday prior and 2,896 head below the same Monday last year.
Jul 26 Hogs closed at $93.350, down $0.500,
Aug 26 Hogs closed at $98.525, down $0.225
Oct 26 Hogs closed at $82.575, up $0.550,
