Pork Market Update: Lean Hogs See Modest Gains, Figures Reflect Mixed Trends

Lean Hogs Futures Rise Slightly Despite Falling Prices

Lean Hogs futures ended the Monday session with slight increases, showing gains of 35 to 85 cents. However, the national average base hog price dipped to $83.32 on Monday afternoon, a decrease of $1.35 compared to the previous day. The CME Lean Hog Index also fell, reported at $89.27 on November 14, down 51 cents from the day before.

Pork Cutout Values Decline Amid Increased Slaughter Rates

The USDA reported a slight drop in the FOB plant pork cutout value, falling 4 cents to $97.07 per hundredweight. Only the loin and butt primals experienced an increase. In terms of production, USDA estimated Monday’s hog slaughter at 489,000 head, which is 41,000 head higher than last Monday and an increase of 2,596 head compared to the same week last year.

Key Price Movements for December and February Hogs

Dec 24 Hogs closed at $80.025, up $0.525.

Feb 25 Hogs closed at $83.275, up $0.375.

Apr 25 Hogs closed at $87.425, up $0.525.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this report. The information contained herein is for informational purposes only. For further details, please review the Barchart Disclosure Policy.

The views expressed in this article reflect those of the author and do not necessarily align with Nasdaq, Inc.