Lean Hog Futures Decline Amid Mixed Market Signals

Lean hog futures declined on Wednesday, dropping 62 cents to a closing price of $1.175. The USDA reported that the national average negotiated price for base hogs was $93.00 Wednesday afternoon, which reflects a 2-cent decrease from the previous day. Additionally, the CME Lean Hog Index increased by 60 cents from the prior day, reaching $88.78 as of April 28.

In the morning report, the pork cutout value rose by 2 cents to $96.61, according to USDA data. Among the primals, only rib and belly cuts showed an increase; the rest experienced declines. USDA’s estimate for Tuesday’s federally inspected hog slaughter was 487,000 head, bringing the weekly total to 1.461 million head. This figure represents an increase of 148,000 head compared to the previous week and 28,853 head more than the same week last year.

Market Performance for Future Contracts

May 25 Hogs closed at $91.925, down $0.625.

Jun 25 Hogs settled at $98.275, down $1.175.

Jul 25 Hogs finished at $98.600, down $1.000.

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.

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