Lean Hogs Start Strong as Market Shows Mixed Signals

Lean Hog futures made gains to kick off the short trading week, with prices increasing by 7 to 30 cents by market close. The national average base hog negotiating price was not reported on Monday afternoon, while the 5-day rolling average stood at $83.31. As of November 21, the CME Lean Hog Index was at $87.01, reflecting a decrease of 43 cents from the previous day.

Pork Cutout Value Rises Amid Slaughter Estimates

The USDA reported an increase in the FOB plant pork cutout value on Monday, rising by $1.56 to reach $93.33 per cwt. Notably, the belly primal was the only cut that declined, dropping by $6.43, while other cuts experienced gains. The USDA’s estimates indicated that Monday’s federally inspected hog slaughter totaled 489,000 head; this number matched the previous week’s figures and represented an increase of 12,831 head compared to the same week last year.

Market Closings for December and February Hogs

Dec 24 Hogs closed at $81.975, gaining $0.300.

Feb 25 Hogs closed at $85.925, rising by $0.250.

Apr 25 Hogs closed at $90.125, up by $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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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