Lean Hog Futures Slide Despite Rising Average Prices

Market Updates on Hog Prices and Slaughter Figures

Lean hog futures ended Tuesday’s session lower, with front-month contracts declining between 40 to 60 cents. The national average base hog price rose to $76.80 in the afternoon, marking an increase of $2.33 from the previous day. The CME Lean Hog Index, reported at $84.16 on October 11, decreased by 13 cents compared to the day before.

In the latest update from the USDA, the FOB plant pork cutout value stood at $94.40 per cwt on Tuesday afternoon, down 57 cents from the day prior. Among the primal cuts, only the rib and belly reported increases. Tuesday’s estimated hog slaughter was 487,000 head, bringing the weekly total to 960,000 head. This figure represents an increase of 5,000 head from the previous week but is down by 830 head from the same period last year.

In contract specifics, Dec 24 Hogs closed at $75.225, down $0.575, while Feb 25 Hogs ended at $79.300, a decrease of $0.525. Apr 25 Hogs closed at $83.800, down $0.400.

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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