Lean Hog Market Shows Mixed Signals Amid Price Fluctuations

Lean Hog Futures Experience Minor Drops in Front Months

Lean hog futures ended Friday with front months decreasing by 7 cents to $1.60, while deferreds saw an increase ranging from 7 to 12 cents. Notably, December futures rose by 40 cents this week; however, they are down $1.72 for the month. The national average base hog price negotiated on Friday was reported at $83.79, a decline of $3.67 from the previous day. Additionally, the CME Lean Hog Index stood at $85.51 on November 26, also down 39 cents from the day before.

Pork Exports Exhibit Variability with Mexico Leading the Charge

In the week ending November 21, pork export sales reached 17,222 metric tons (MT) for 2024 and 17,501 MT for 2025. Mexico emerged as the largest purchaser for the current year, buying 8,300 MT, while South Korea secured 9,800 MT for next year. Export shipments were recorded at 28,119 MT, marking a seven-week low, with Mexico receiving 10,300 MT and Japan getting 4,100 MT.

Pork Cutout Value Rises as Slaughter Figures Remain Steady

The USDA reported an increase in the FOB plant pork cutout value on Friday afternoon, up $1.37 at $90.31 per hundredweight (cwt). While the loin and picnic cuts saw price drops, other primals increased between $2.41 and $7.10, with belly cuts leading the way. The USDA estimated Friday’s federally inspected hog slaughter at 438,000 head, bringing the weekly total to 2.293 million, including Saturday’s figures.

Latest Lean Hog Futures Close

Dec 24 Hogs closed at $82.075, down $0.325.

Feb 25 Hogs closed at $86.325, down $1.600.

Apr 25 Hogs closed at $90.750, down $0.875.

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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