Lean Hog Futures Dip Amid USDA Reports and Tariff Updates

Lean hog futures have bounced back slightly from earlier session lows but remain down at 97 cents as midday trading progresses. As of Wednesday morning, the USDA national average base hog negotiated price rose by 88 cents from the previous day to $88.96. The CME Lean Hog Index also experienced a 15-cent increase from the day before, reaching $88.65 on March 31.

In the political arena, President Trump is expected to announce new tariffs later today, promoting it as “Liberation Day.” In response, Mexico’s President Sheinbaum declared that her country will not implement reciprocal tariffs against the United States.

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The pork cutout value reported by the USDA on Tuesday afternoon declined by 54 cents to $94.97 per cwt. Notably, the loin and belly were the only primals that saw price decreases. The USDA estimated the federally inspected hog slaughter on Tuesday at 489,000 head, bringing this week’s total to 953,000 head. This figure represents a decrease of 10,000 head from the previous week and is 104,871 head higher than the same week last year.

Apr 25 Hogs are currently priced at $87.350, down $0.025.

May 25 Hogs stand at $88.875, down $0.600.

Jun 25 Hogs are trading at $96.050, down $0.975.

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