Lean hog futures are posting $1.50 to $2.05 gains at midday after gapping higher at the open.  USDA’s national average base hog negotiated price was reported at $106.56 on Monday morning, up $2.51 from the day prior. The CME Lean Hog Index was up $1.06 on June 12, at $102.81.

Speculators in lean hog futures and options are regaining some bullish attitude, as their net long position was increased by 16,592 contracts as of June 10th. That took them to a net long of 118,218 contracts.

USDA’s FOB plant pork cutout value from Monday morning was up 87 cents at $118.93. The rib was the only primal reported lower. Federally inspected hog slaughter for the week was estimated at 2.387 million head. That is up 32,000 from last week and 4,648 head larger than the same week last year.

Jul 25 Hogs  are at $111.525, up $2.050,

Aug 25 Hogs  are at $111.875, up $1.750

Oct 25 Hogs  is at $95.775, up $1.575,