Lean Hog Futures Show Mixed Results Amid Trade Tariffs

Lean hog futures displayed a mix of performance on Tuesday, with some contracts rising 52 cents while others declined by 27 cents. The USDA reported the national average base hog negotiated price at $86.83 Tuesday afternoon, reflecting an increase of $1.85 from the previous day. Meanwhile, the CME Lean Hog Index fell 17 cents to $88.19 as of April 4.

Additionally, the new 50% tariffs on imports from China will go into effect tomorrow, April 9, bringing the total tariffs on all Chinese goods to 104%.

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The USDA’s pork cutout value decreased by $3.82, settling at $93.45 per hundredweight. Among the primal cuts, the rib was the only one to report an increase, while the ham fell significantly, down $7.35. The USDA estimated the federally inspected hog slaughter at 488,000 head on Tuesday, with the week-to-date total reaching 976,000 head. This marks an increase of 23,000 head from the previous week and is 36,150 head higher than the same week last year.

Apr 25 Hogs closed at $87.825, up $0.025.

May 25 Hogs closed at $84.600, up $0.525.

Jun 25 Hogs closed at $89.775, down $0.275.

At the time of publication,
Austin Schroeder
did not hold positions (either directly or indirectly) in any of the mentioned securities. All information and data in this article is intended solely for informational purposes. For further details, please refer to the Barchart Disclosure Policy
here.

 

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