Lean Hog Futures Rise Amid Cash Market Gains

On Tuesday, lean hog futures experienced an uptick, with contracts increasing by $1.20 to $2.25. This surge can be attributed to a stronger cash market. The USDA reported the national average base hog negotiated price at $90 on Tuesday afternoon, marking a significant rise of $6.41 from the previous day. Additionally, the CME Lean Hog Index climbed 25 cents to reach $85.71 as of April 18.

In contrast, the USDA pork cutout report showed a decrease of 61 cents, settling at $95.78 on Tuesday afternoon. While picnic and belly primals saw price increases, the rest of the cuts trended downward. The USDA estimates indicated that federally inspected hog slaughter for Tuesday stood at 485,000 head, bringing the total for the week to date to 841,000 head. This figure reflects a decline of 133,000 head from the previous week and is 128,368 head lower compared to the same week last year.

Current Futures Close

May 25 Hogs closed at $92.225, up $1.200.

Jun 25 Hogs closed at $100.275, up $2.225.

Jul 25 Hogs closed at $100.275, up $2.025.

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