Lean Hog Futures Show Mixed Performance as Year Wraps Up

Market Highlights and Future Outlook

Lean hog futures concluded the last session of 2024 with contracts declining between 22 to 72 cents. The national average base hog price rose to $80.08 on Tuesday afternoon, an increase of $1.27 from the previous day. Meanwhile, the CME Lean Hog Index stood at $84.35 on December 27, reflecting a decrease of 50 cents since the prior day.

Pork Cutout Values Dip; Slaughter Numbers Surge

The USDA reported a $4.02 decline in the FOB plant pork cutout value, bringing it down to $90.30 per cwt in Tuesday’s PM report. While the rib primal saw a price increase, other primals experienced drops, with the picnic primal leading the decline at $9.13. Furthermore, federally inspected hog slaughter was estimated at 411,000 for Tuesday, resulting in a weekly total of 892,000 head. This number is up by 231,000 from the previous week and significantly higher than this time last year.

February and April Hogs Settle Lower

February 25 hogs closed at $81.300, down $0.325. For April 25, prices settled at $86.575, decreasing by $0.475. May 25 hogs also faced a downturn, closing at $90.975, down $0.400.

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

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