Lean Hog Futures Show Mixed Results Amid Price Fluctuations

Tuesday’s Market: Rising Base Hog Prices and Slaughter Estimates

On Tuesday, lean hog futures experienced increases of 7 cents to $2.20 across most contracts, although some deferred contracts saw declines between 7 and 22 cents. The national average base hog price rose to $82.04, gaining $1.09 from the previous day. Additionally, the CME Lean Hog Index stood at $85.55 as of October 25, reflecting an uptick of 12 cents from the day before.

The USDA reported a decrease in the FOB plant pork cutout value, which fell by 88 cents from Monday, settling at $101.07 per cwt in Tuesday’s afternoon report. The loin and picnic primals decreased by $3.86 and $5.37, respectively, while all other primals showed gains between 91 cents and $3.44. Furthermore, the USDA estimated Tuesday’s hog slaughter at 488,000 head, bringing the total for the week to 976,000. This figure remains consistent with the previous week and is also 10,943 head higher than the same period last year.

Dec 24 Hogs closed at $82.825, up $2.200.

Feb 25 Hogs closed at $85.375, up $1.150.

Apr 25 Hogs closed at $87.775, up $0.650.

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

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