Lean Hog Futures Dip Slightly as Market Adjusts

Monday Trading Shows Mixed Signals for Pork Prices

Lean hog futures concluded the Monday session with most contracts decreasing by 17 cents to $2.05, particularly affecting the nearby contracts. The national average base hog negotiated price climbed to $79.39 on Monday afternoon, reflecting a rise of 46 cents from the previous day. Meanwhile, the CME Lean Hog Index stood at $83.90 on December 12, down by 2 cents compared to the prior day.

The USDA reported an increase in the FOB plant pork cutout value, which rose by 92 cents to $95.53 per cwt on Monday evening. The rib cut significantly contributed to this upward movement, rising by $8.53, despite the picnic and ham primals registering lower prices. The USDA also estimated the Monday federally inspected (FI) hog slaughter at 487,000 head, which was 2,000 head lower than last week but up by 7,777 head from the same Monday last year.

Feb 25 Hogs closed at $83.550, down $2.050.

Apr 25 Hogs closed at $88.250, down $1.500.

May 25 Hogs closed at $91.975, down $1.150.

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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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