Lean Hog Futures Show Strong Gains This Week

Market Overview: Prices Rise Alongside Hog Slaughter Numbers

Lean hog futures experienced an uptick today, gaining between 15 cents and $1.55. As of Wednesday morning, the national average base hog price reached $85.94, a significant increase from Tuesday’s $82.04. Furthermore, the CME Lean Hog Index stood at $85.73 on October 28, marking an increase of 18 cents from the prior day.

Pork Cutout Value Sees Gains Despite Mixed Primals

The USDA’s FOB plant pork cutout value rose by $1.23 to $102.30 per cwt in the Wednesday morning report. While the butt, picnic, and rib primals showed a decline of $0.69 and $1.88, the belly primal saw a notable increase, climbing $7.02. According to USDA estimates, Tuesday’s federally inspected hog slaughter totaled 488,000 head, bringing the week-to-date total to 976,000. This figure mirrorslast week’s numbers and surpasses the previous year’s count by 10,943 head.

Current Lean Hog Futures Prices

Dec 24 Hogs are priced at $84.375, up $1.550.

Feb 25 Hogs are currently at $85.925, increasing by $0.550.

Apr 25 Hogs have reached $87.925, up by $0.150.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are provided solely for informational purposes. For more details, please see the Barchart Disclosure Policy here.

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