Lean Hog Futures Climb as Prices Show Solid Gains

Market Insights: Monday Sees Robust Increases in Hog Prices

Lean hog futures enjoyed a strong performance on Monday, with gains ranging from 15 to 45 cents. The national average base hog price rose to $75.22 by afternoon, marking a notable increase of $3.17 since the previous day. Additionally, the CME Lean Hog Index reported a value of $83.96 on October 17, which is up by 12 cents compared to earlier in the week.

According to USDA reports, the FOB plant pork cutout value reached $98.24 per cwt in the Monday PM release, an increase of $1.65 from the day before. While prices for belly and picnic cuts saw a decrease, the other four primal cuts experienced gains between $1.11 and $4.25. Notably, USDA estimated Monday’s federally inspected hog slaughter at 488,000 head—a jump of 15,000 from the previous Monday and an increase of 1,838 from the same day last year.

Dec 24 Hogs closed at $78.275, up $0.450.

Feb 25 Hogs closed at $82.250, up $0.400.

Apr 25 Hogs closed at $85.925, up $0.300.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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