The latest quarterly Hog and Pig Report delivered fresh insights for the grain and livestock markets, confirming a trend that’s been building since spring. Lean hog futures have continued their upward momentum, with July contracts hitting new highs and August trading near peak levels at $113.37 before a recent modest pullback.
Even with the slight retreat early this week, managed money traders remain net long at their highest level in six months, underscoring confidence in the pork market’s direction.
The CME lean hog index currently sits above 108—the highest since August 31 of last year. And while last week’s report isn’t expected to drastically alter this bullish outlook, it does show the total hog inventory down slightly—by approximately 0.5 to 1 percent.
As we move further into the summer season, these numbers could continue to support strong prices and positive momentum for U.S. hog producers.
Wishing you a profitable day.
— Mark Oppold, Southeast AgNet