Lean Hog Futures Show Mixed Results Amid Market Fluctuations
Lean hog futures experienced a mixed session on Wednesday. Contracts fell by 25 to 40 cents, while July futures rose by 7 cents. The USDA’s national average base hog negotiated price was reported at $93.02 on Wednesday afternoon, reflecting a decrease of 56 cents. Additionally, the CME Lean Hog Index climbed 26 cents on May 5, reaching $90.13.
Market Pricing and Slaughter Estimates
In the morning, the FOB plant pork cutout value dropped by 16 cents per hundredweight (cwt) to $95.54 on a carcass basis. Notably, prices for loin, butt, and rib cuts reported gains. The USDA’s estimated federally inspected hog slaughter for Wednesday stood at 471,000 head, bringing the weekly total to 1.438 million head. This represents a decline of 17,000 head compared to the previous week but an increase of 5,194 head from the same week last year.
May and June Hogs Performance
Closing figures for hog futures on Wednesday were as follows:
- May 25 Hogs closed at $91.150, down $0.400
- June 25 Hogs closed at $97.325, down $0.250
- July 25 Hogs closed at $99.475, up $0.075
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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