Lean Hog Futures Experience Declines Amid Lower Market Prices

On Monday, lean hog futures dropped between 30 to 70 cents across most contracts. The USDA reported a national average base hog negotiated price of $89.96, marking a $1.55 decrease from the previous day. Meanwhile, the CME Lean Hog Index rose by 12 cents for May 1, reaching $89.69.

The afternoon’s FOB plant pork cutout value fell by $1.72 per hundredweight on a carcass basis, settling at $96.66. All primal cuts, except for the rib, were quoted at lower prices. According to USDA estimates, federally inspected hog slaughter for Monday totaled 482,000 head, an increase of 4,000 from the previous week and 3,624 more than the same week last year.

May 25 hogs closed at $92.250, down $0.700. June 25 hogs finished at $99.000, down $0.350, while July 25 hogs closed at $100.400, down $0.300.

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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