Lean Hog Futures Decline, USDA Reports Mixed Market Conditions

Lean hog futures closed lower, with contracts dropping 35 cents, though some deferred months showed slight increases. The USDA reported that the national average base hog negotiated price increased by $1.87 from the previous day, reaching $91.87 on Wednesday afternoon. In contrast, the CME Lean Hog Index rose by 37 cents to $86.08 as of April 21.

Market Overview and Slaughter Data

The USDA’s Wednesday afternoon pork cutout value was reported at $94.08, a decrease of $1.70. The butt primal was the only cut to report a price increase, while the others fell in value. Additionally, the federally inspected hog slaughter for Wednesday was estimated at 488,000 head, bringing the week-to-date total to 1.329 million head. This figure reflects a decrease of 133,000 head compared to the previous week and is down 121,024 head from the same week last year.

Closing Prices for May and June Hogs

May 25 Hogs closed at $91.875, down $0.350.

Jun 25 Hogs closed at $100.150, down $0.125.

Jul 25 Hogs closed at $100.300, up $0.025.

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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