Lean Hog Futures Decline Amid Mixed Market Signals

Today’s Trading Highlights

Lean hog futures are experiencing losses, ranging from 12 cents to $1.10 at midday. As of Friday morning, the national average base hog negotiated price stood at $83.44, a decrease of $3.92 from the previous day. Additionally, the CME Lean Hog Index was reported at $85.51 on November 26, reflecting a drop of 39 cents from the day prior.

Pork Export Trends

Pork export sales for 2024 reached a total of 17,222 MT during the week ending November 21, while projections for 2025 saw sales at 17,501 MT. Mexico emerged as the largest buyer for 2024, purchasing 8,300 MT, followed closely by South Korea with 9,800 MT for 2025. Total shipments amounted to 28,119 MT, marking a seven-week low, with 10,300 MT sent to Mexico and 4,100 MT to Japan.

Market Insights from USDA

The USDA reported an increase in the FOB plant pork cutout value, which rose by 85 cents to $89.79 per cwt on Friday morning. While the loin and picnic primals saw a decline, the belly primal experienced a significant increase, rising by $6.81. The USDA estimated Wednesday’s federal inspected hog slaughter at 488,000 head, bringing the week-to-date total to 1.466 million head. This figure matches last week’s total and is 24,546 head higher compared to the same week last year.

Current Lean Hog Futures

Dec 24 Hogs: $82.275, down $0.125

Feb 25 Hogs: $86.825, down $1.100

Apr 25 Hogs: $91.175, down $0.450

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 is for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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