Lean Hog Futures See Mixed Movements Amid Market Adjustments

Lean hog futures experienced a slight increase, with April contracts rising by five cents. Other contracts reported gains ranging from $1.17 to $1.72. The USDA’s national average base hog negotiated price saw a boost of 46 cents on Monday morning, reaching $83.50. However, the CME Lean Hog Index decreased by 81 cents from the previous day, settling at $86.86 on April 10.

According to the Commitment of Traders data, speculative traders cut their positions significantly, reducing their net long positions in lean hog futures and options by 19,064 contracts as of April 8, bringing the total to 36,262 contracts.

The pork cutout value reported by the USDA on Monday morning showed a decline of $2.44, now standing at $94.40 per cwt. Notably, the butt cut led this downturn, rising by $9.55. The USDA estimated the federally inspected hog slaughter for last week at 2.492 million head, an increase of 22,000 head from the prior week and 10,514 head higher than the same period last year.

Current Lean Hog Contract Prices

April 25 Hogs are priced at $85.475, an increase of $0.050.

May 25 Hogs are listed at $87.750, up $1.175.

June 25 Hogs are valued at $95.050, reflecting a rise of $1.725.

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

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