Hogs Rally to Begin Monday

Pig with dirt on snout ear tagged

Lean hog futures rallied on Monday with contracts up 37 cents to $1.72 on the day. The CME Lean Hog Index was down 14 cents at $91.44 on June 13.  USDA showed the National Base Hog was not reported on Monday afternoon due to light volume this early in the week, with a 5-day rolling average at $87.49.

USDA’s Pork Cutout Value was reported back lower in the Monday PM print, down $2.41 to $98.94. The picnic, rib, and ham primals were reported higher, with the belly weighing down the load, $11.83 lower.  USDA estimated Monday’s FI hog slaughter at 459,000 head. That is down 4,000 head from a week ago but up 2,307 head from the same Monday a year ago.

Jul 24 Hogs  closed at $95.375, up $1.725,

Aug 24 Hogs  closed at $91.875, up $1.425

Oct 24 Hogs  closed at $78.225, up $1.475,

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.