Lean hog futures are experiencing gains of 47 cents to $1.17 at midday on Monday, with the CME Lean Hog Index increasing by 15 cents to $110.25 as of August 7. The USDA has not reported the national base hog price due to packer submission issues.
In the week ending August 5, large managed money speculators increased their net long positions in lean hog futures and options by 1,700 contracts, bringing their total to 109,286 contracts. The USDA reported a pork cutout value of $119.45 per cwt, an increase of $2.05, with estimated hog slaughter at 2.35 million head—14,000 more than the previous week but down 29,420 from last year.
Specific prices for futures include August 25 Hogs at $109.575 (up $0.675), October 25 Hogs at $91.850 (up $1.175), and December 25 Hogs at $84.250 (up $0.475).
