Lean Hog Futures Decline Amid Mixed Market Signals

National Average Hog Price Slides

Lean hog futures fell significantly on Thursday, ranging from losses of 60 cents to $2.25. The national average base hog negotiated price dropped to $86.14, a decline of $2.80 compared to the previous day. In contrast, the CME Lean Hog Index rose slightly to $89.94 on November 12, an increase of 6 cents from the day before.

Pork Cutout Values Decline

According to the USDA, the FOB plant pork cutout value decreased in the Thursday PM report by $3.19, bringing it down to $94.07 per cwt. Notably, only the picnic and loin cuts showed increases, while the belly led the decline, dropping by $20.78. USDA estimated the hog slaughter for Thursday at 488,000 head, making the total for the week 1.924 million head. This figure is 28,000 head lower than last week but up by 2,343 head compared to the same week last year.

Futures Prices Overview

December 2024 hogs closed at $80.100, down by $1.775. February 2025 hogs ended at $83.775, a drop of $2.250. April 2025 hogs closed at $88.125, down by $2.025.

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 is for informational purposes only. For further details, please view the Barchart Disclosure Policy
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