Lean Hog Futures Show Strong Gains Amid Rising Prices

Lean hog futures experienced significant increases on Thursday, ranging from $2.27 to $2.35 for nearby contracts. The national average base hog negotiated price climbed to $78.85 by Thursday afternoon, reflecting a 34-cent rise from the previous day. However, the CME Lean Hog Index for January 7 stood at $81.05, down 54 cents from the day before.

Pork Cutout Value and Slaughter Statistics

The USDA reported a slight decline in the FOB plant pork cutout value, which fell by 5 cents in the Thursday PM report to $90.48 per cwt. While the butt, picnic, and ham prices decreased, other cuts saw gains. Additionally, federally inspected hog slaughter was estimated at 488,000 head on Thursday, bringing the weekly total to 1.906 million head. This figure represents an increase of 106,656 head compared to the same week last year.

February and April Contracts Rise

Feb 25 Hogs closed at $81.775, up $2.300.

Apr 25 Hogs closed at $87.350, up $2.275.

May 25 Hogs closed at $92.025, up $2.325.

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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.