As of Tuesday’s midday trading, lean hog futures are experiencing losses ranging from 5 to 45 cents. The USDA did not report its national base hog price due to light volume, with a 5-day rolling average at $111.43. The CME Lean Hog Index fell by $1.18, settling at $108.33 on July 3.
Speculators increased their net long position in lean hog futures and options by 275 contracts, reaching a record high of 134,567 as of last Tuesday. Additionally, the USDA reported a pork cutout value of $113.76, up 27 cents, with 478,000 head of hogs slaughtered on Monday, marking an increase of 9,000 from the previous week and 15,445 from the previous year.
Closing prices for July 25 Hogs were recorded at $106.90 (down $0.050), August 25 Hogs at $106.675 (down $0.425), and October 25 Hogs at $92.750 (down $0.125).
