Lean Hog Futures Display Stability Ahead of Holiday

Lean hog futures experienced a steady trading session on Friday, reflecting minor fluctuations with contracts shifting between a 5 cent drop to a 10 cent increase. The USDA reported the national average base hog negotiated price at $88.03 this morning, showing an increase of $2.39 from the previous day. Additionally, the CME Lean Hog Index rose by 98 cents, landing at $88.06 on February 12. Note that the markets will be closed on Monday for President’s Day, resuming normal trading on Tuesday.

Pork Cutout Values and Slaughter Numbers Surge

As for pork, the USDA FOB plant cutout value increased by $1.32 in the Friday AM report, now standing at $102.21 per cwt. Federally inspected hog slaughter on Thursday was estimated at 487,000 head, bringing the total for the week to 1.959 million head. This figure surpasses last week’s numbers by 14,000 head and also reflects a rise of 16,234 head compared to the same week last year.

Current Contract Prices

Feb 25 Hogs are priced at $89.475, up $0.100.

Apr 25 Hogs are at $93.175, up $0.075.

May 25 Hogs is quoted at $97.000, down $0.050.

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 for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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