Lean Hog Futures Show Gains Amid Slumping Prices

Lean hog futures are trading with midday gains ranging from $1.125 to $2.10 on Friday. The USDA reported the national average base hog negotiation price at $88.26 this morning, reflecting a decrease of $2.14 from the previous day. Additionally, the CME Lean Hog Index dropped 21 cents from the prior day to $89.20 as of March 19.

According to Friday’s FOB plant pork cutout data from the USDA, values increased by $2.48, reaching $98.34 per cwt. Among the primal cuts, the belly was the lone category that declined, while the rib primal surged by $6.24. USDA estimates indicated that the Thursday Federally inspected hog slaughter totaled 471,000 head, bringing the week-to-date total to 1.804 million head. This marks a reduction of 150,000 head compared to last week and is down 142,667 head from the same week a year ago.

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Apr 25 Hogs are currently priced at $86.675, an increase of $1.125.

May 25 Hogs stand at $90.525, up by $1.925.

Jun 25 Hogs are priced at $98.350, reflecting an increase of $2.100.

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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