Lean Hog Futures Close Higher Amid Fluctuating Pork Prices

Lean Hog Market Shows Mixed Results Tuesday

Lean Hog futures ended the Tuesday session with increases ranging from 10 to 57 cents. The national average base hog negotiated price rose to $84.79 by Tuesday afternoon, marking a $1.27 increase from the previous day. Notably, the CME Lean Hog Index decreased to $90.02 on November 8, falling 41 cents from the day before.

USDA Reports Decline in Pork Cutout Values

The USDA’s FOB plant pork cutout value saw a decrease in the Tuesday PM report, dropping $3.78 to $97.68 per cwt. While the butt and picnic cuts experienced price increases, most other primal cuts fell, with the belly notably decreasing by $11.56. The USDA estimated that Tuesday’s federally inspected hog slaughter reached 489,000 head, bringing the week’s total to 947,000 head. This figure is 30,000 head fewer than last week and down 452 head compared to the same week last year.

Futures Prices for December, February, and April Hogs

Dec 24 Hogs closed at $82.350, an increase of $0.575.

Feb 25 Hogs closed at $86.325, up $0.400.

Apr 25 Hogs closed at $90.125, rising by $0.150.

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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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