Lean Hog Futures Show Mixed Activity Amid Price Adjustments

Recent Price Movements in the Hog Market

Lean hog futures have seen contracts rise between 15 to 90 cents recently. The national average base hog negotiated price decreased to $77.98 on Friday morning, falling $1.37 from the previous day. Additionally, the CME Lean Hog Index was reported at $80.59 as of January 8, a decline of 46 cents from the day before.

Pork Exports and Domestic Market Insights

In the week leading up to January 2, pork export sales totaled 31,038 metric tons (MT), while shipments reached 25,474 MT. Mexico was the largest recipient, importing 8,300 MT, followed by Japan with 3,000 MT.

Fluctuations in Pork Cutout Values

The USDA reported an increase of $1.54 in the FOB plant pork cutout value, bringing it to $92.02 per hundredweight (cwt) in the Friday morning statement. Despite declines in loin and rib prices, other cuts showed gains. On Thursday, federally inspected hog slaughter was estimated at 488,000 head, contributing to a weekly total of 1.906 million head, which is 106,656 head more than the same week last year.

Current Lean Hog Futures Prices

Feb 25 Hogs: $81.925, up $0.150

Apr 25 Hogs: $88.250, up $0.900

May 25 Hogs: $92.825, up $0.800

On the date of publication, Austin Schroeder did not hold positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. For more details, please refer to the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.