Lean Hogs Struggle With Mixed Cash Market Signals

After flashing triple digit losses at midday, front month lean hog futures rallied back in the afternoon. The late session push left Dec contracts 37 cents higher on Monday, but the other nearbys still closed 25 to 67 cents lower. The Fresh Bacon Index from CME was $188.44. The CME Lean Hog Index for the 29th was another buck lower @ $74.49. USDA’s National Average Base Hog price for Monday was $1.11 weaker at $59.96. The National Pork Carcass Cutout value was 34 cents higher in the PM update, @ $84.14 cwt. Federally inspected hog slaughter was 493,000 head on Monday. That compares to 487,000 last week and 492,000 from the same Monday last year.

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