Hogs Collapse to Start the Week

Cute pink pig looking in pasture

Lean hog futures posted losses of 77 cents to $2.60 on Monday. The USDA National Base Hog price reported at $86.64 on Monday afternoon, up 60 cents from the previous day. The CME Lean Hog Index was down another 23 cents at $90.32 on June 20. Typical seasonal strength has not been there this spring.

CFTC Commitment of Traders report showed the spec funds flipping their position by 6,393 contracts to a net short 222 contracts as of last Tuesday.

USDA’s Pork Cutout Value was lower in the Monday PM report, down $1.20 to $97.83. The rib, ham, and belly were the only primals reported higher. USDA estimated Monday’s FI hog slaughter at 473,000 head. That is up 14,000 head from a week ago and 10,503 head higher vs. the same week a year ago.

Jul 24 Hogs  closed at $89.950, down $2.100,

Aug 24 Hogs  closed at $86.725, down $2.600

Oct 24 Hogs  closed at $74.075, down $2.250,

On the date of publication, Alan Brugler 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.