Lean Hog Futures Decline Amid Mixed Market Signals on Tuesday

On Tuesday, lean hog futures exhibited a variation of $1.07 to $1.75, with the April contract decreasing by 35 cents. The USDA reported a national average base hog negotiated price, which dipped 23 cents from the previous day, settling at $88.26 in the Tuesday PM report. In addition, the CME Lean Hog Index decreased by another 28 cents from the day before, reaching $88.50 on March 28.

The USDA’s Tuesday morning pork cutout report indicated a decline of $1.94, resulting in a price of $95.51 per cwt. Only the rib and picnic cuts experienced price increases among the primal cuts. Moreover, USDA estimated that 489,000 hogs were slaughtered under Federal inspection on Tuesday, bringing the weekly total to 953,000 head. This represents a decrease of 10,000 head compared to the previous week and an increase of 104,871 head from the same week last year.

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Apr 25 Hogs closed at $87.375, down $0.350,

May 25 Hogs closed at $89.475, up $1.075,

Jun 25 Hogs closed at $97.025, up $1.750.

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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