Hogs Post Mixed Monay, as Traders Look to Tuesday

Lean hog futures closed higher in the front months, up 70 to 90 cents, while deferred contracts were lower by 42 cents to $1.30. Open interest fell by a combined 2,562 lots in the front months, suggesting some positioning unwind despite the spot-month strength. USDA’s national base hog price was not reported on Monday afternoon, while the CME Lean Hog Index was also indicated as lower.

Analysis

Lean hog futures closed higher in the front months, up 70 to 90 cents, while deferred contracts were lower by 42 cents to $1.30. Open interest fell by a combined 2,562 lots in the front months, suggesting some positioning unwind despite the spot-month strength. USDA’s national base hog price was not reported on Monday afternoon, while the CME Lean Hog Index was also indicated as lower.