Lean Hog Futures Experience Positive Gains on Tuesday

Market Updates: Hog Prices and Slaughter Numbers Rise

Lean hog futures saw increases of 45 cents to $1.20 across most contracts on Tuesday. The national average base hog negotiated price climbed to $80.14, reflecting a rise of $1.00 from Monday. Moreover, the CME Lean Hog Index recorded a value of $80.76, up 33 cents from the previous day.

According to the USDA, the FOB plant pork cutout value increased by a penny to $90.21 per hundredweight in Tuesday’s afternoon report. Notably, the loin was the only primal cut that rose, gaining $1.78. The number of federally inspected hogs processed on Tuesday totaled 477,000 head, bringing the total for the week to date to 963,000 head. This figure exceeds last week’s total by 29,000 head and marks an increase of 143,121 head compared to the same week last year.

Feb 25 Hogs closed at $83.625, up $0.450.

Apr 25 Hogs closed at $90.500, up $1.200.

May 25 Hogs closed at $95.075, up $1.000.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.