Lean Hog Futures Report: Mixed Results Amid Market Fluctuations

Lean Hog futures ended Friday with nearby contracts down by 47 to 77 cents, though most others saw increases of 7 to 42 cents. For the week, December futures dropped by $3.65. Meanwhile, the national average base hog negotiated price decreased to $81.67 on Friday, falling $3.36 from the previous day. The CME Lean Hog Index stood at $90.61 on November 6, reflecting an increase of 37 cents from the day before.

According to the latest Commitment of Traders data, speculators in lean hog futures and options expanded their record net long position by 12,683 contracts, bringing the total to 115,587 contracts.

In the USDA’s Friday afternoon report, the FOB plant pork cutout value experienced a significant rise of $4.42, reaching $102.38 per cwt. The loin was the only primal that reported a decline, while the belly primal saw a notable increase of $19.54. This week’s estimated hog slaughter was 2.605 million head through Saturday, which is 48,000 head fewer than last week but 26,622 head more than the same week last year.

For specific contract closes: Dec 24 Hogs were at $80.425, down $0.775; Feb 25 Hogs closed at $84.825, down $0.475; and Apr 25 Hogs finished at $89.250, up $0.075.

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

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