Lean Hog Futures Slide as Year Ends

Price Movements and Market Data

Lean hog futures wrapped up 2024 on a down note, with contracts falling between 22 to 72 cents. The national average base hog negotiated price saw an increase, reaching $80.08 on Tuesday afternoon, a rise 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 from the day before. Note that the market will remain closed on Wednesday for New Year’s Day.

Pork Cutout Values Decrease

The USDA’s FOB plant pork cutout value dropped by $4.02 in the Tuesday PM report, settling at $90.30 per cwt. The rib primal was the only exception with a reported increase, while the rest of the primals experienced declines, most notably the picnic, which was down $9.13. In terms of hog slaughter, an estimated 411,000 hogs were processed on Tuesday, contributing to a weekly total of 892,000 head—an increase of 231,000 compared to last week and significantly higher than at the same point last year.

Feb 25 Hogs closed at $81.300, down $0.325.

Apr 25 Hogs closed at $86.575, down $0.475.

May 25 Hogs closed at $90.975, down $0.400.

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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