Lean Hog Futures Rise as Pork Cutout Values Increase

Lean hog futures are trading with contracts increasing between 10 to 35 cents on Thursday. The USDA did not report the national average base hog negotiated price this morning; however, the 5-day rolling average stands at $85.03. The CME Lean Hog Index decreased by 28 cents from the previous day to reach $85.09 on April 15. Markets will be closed on Good Friday, making Thursday’s trading the week’s final activity.

Export Sales and Shipment Summary

This morning’s Export Sales report revealed a total of 20,548 metric tons (MT) sold for the week ending April 10, marking a 4-week low. Japan topped the purchasing list with 7,100 MT, while Mexico received 3,200 MT. Total shipments were reported at 30,934 MT, a recovery from the previous week. Notably, 11,100 MT were sent to Mexico, alongside 5,300 MT to South Korea.

Pork Cutout Values and Slaughter Estimates

The pork cutout value increased by $2.15 this morning, as reported by the USDA, reaching $94.19. All primal cuts showed a rise. USDA estimates for federally inspected hog slaughter positioned Wednesday’s tally at 487,000 head, contributing to a week-to-date total of 1.462 million head. This represents a slight decrease of 1,000 head from last week but is 10,275 head higher than the same week last year.

Current Lean Hogs Futures Prices

May 25 Hogs are priced at $90.500, reflecting an increase of $0.350.

Jun 25 Hogs are currently at $98.050, up $0.100.

Jul 25 Hogs are priced at $98.175, showing a rise of $0.275.

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

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