Lean hog futures experienced mixed trading on Monday, with prices fluctuating between a 50-cent gain to a 22-cent loss. The USDA did not report the national base hog price due to thin volume, while the CME Lean Hog Index fell by 44 cents to $81.76 as of September 24.
Managed money increased their record net short position in lean hog futures and options by 4,147 contracts to a total of 35,548 contracts as of September 22. The monthly Cold Storage report revealed pork stocks at 436.27 million pounds at the end of August, a 12.03% increase year-over-year but down 0.81% from the previous month. Federally inspected hog slaughter for the prior week was estimated at 2.552 million head, 68,000 above the previous week and 19,124 larger than the same week last year.
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