Lean Hog Futures Show Moderation Amid Bird Flu Alert

Hog Prices Rise With Market Adjustments

On Wednesday, lean hog futures closed steady with some contracts rising by as much as $1.55. The national average base hog price was reported at $84.80, reflecting an increase of $2.76 from the previous day. The CME Lean Hog Index for October 28 stood at $85.73, marking a slight uptick of 18 cents from the day before.

In a noteworthy development, the USDA confirmed a case of H5N1 bird flu found in a backyard swine herd in Oregon, which may impact market sentiments and production activities.

According to the USDA’s Wednesday PM report, the FOB plant pork cutout value rebounded by 41 cents from the prior day, reaching $101.48 per cwt. While most pork primals experienced a decline, bellies were an exception, surging by $5.42. The USDA estimated the hog slaughter for Wednesday at 488,000 head, bringing the total for the week to 1.464 million head. This figure represents a decrease of 1,000 head compared to last week, but is up by 25,030 head from the same week last year.

Dec 24 Hogs closed at $84.375, up $1.550.

Feb 25 Hogs closed at $85.700, up $0.325.

Apr 25 Hogs closed at $88.050, up $0.275.

On the date of publication, Austin Schroeder did not hold any positions in the mentioned securities. All data provided in this article is for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views expressed here are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.