Lean Hogs Face Continued Decline Amid Price Drops

Lean hogs are experiencing another downturn, with prices falling between $1.15 to $1.25. On Thursday morning, the USDA reported the national average base hog negotiated price at $89.45, which is a decrease of $3.32 from the previous day. Conversely, the CME Lean Hog Index has risen slightly, up 89 cents to $90.98 as of February 18.

The USDA’s FOB plant pork cutout value was also affected, showing a decline of $1.28 on Thursday morning, bringing it to $94.24 per hundredweight (cwt). The belly cut was a significant contributor to this drop, down $9.16, with the rib and loin cuts also seeing decreases. According to USDA estimates, the Federally inspected hog slaughter on Wednesday was 489,000 head, which raised the weekly total to 1.457 million head. This figure is 15,000 head lower than last week and down by 9,166 head compared to the same week last year.

April 25 Hogs are currently priced at $88.525, down $1.225.

May 25 Hogs stand at $92.475, down $1.150.

June 25 Hogs are at $100.475, down $1.200.

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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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