Lean Hog Futures Decline Amid Mixed Price Trends

Lean hog futures experienced a downturn on Wednesday, with contracts closing 50 cents to $1.02 lower. The USDA reported a national average base hog negotiated price of $95.30 on Wednesday afternoon, reflecting an increase of $1.90 from the previous day. Additionally, the CME Lean Hog Index rose 39 cents on May 19, reaching $91.85.

Market Analysis and Slaughter Figures

USDA’s FOB plant pork cutout value was reported at $100.04 on Wednesday afternoon, a decrease of 48 cents. Prices for the butt, picnic, and belly primals all fell. In terms of hog slaughter, the USDA estimated that 485,000 head were federally inspected on Wednesday, bringing this week’s total to 1.449 million head. This figure is an increase of 16,000 head from the previous week and 12,760 head higher than the same week last year.

Closing Prices for Futures

Jun 25 Hogs closed at $99.525, down $0.500,

Jul 25 Hogs closed at $102.525, down $1.025,

Aug 25 Hogs closed at $102.350, down $0.650.

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.

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