Lean Hog Futures Experience Volatility Amid Lower Prices
Mixed Performance in Lean Hog Market
Lean Hog futures displayed a mixed trading pattern on Tuesday. Near-term contracts fell by 5 to 47 cents, while deferred contracts saw gains ranging from 2 to 52 cents. According to the Tuesday PM report, the national average base hog negotiated price decreased by 83 cents to $82.49. Additionally, the CME Lean Hog Index was registered at $88.49 on November 15, reflecting a decline of 78 cents from the previous day.
Pork Cutout Values and Slaughter Numbers
Later in the day, the USDA reported a drop in the FOB plant pork cutout value, which fell by $2.39 to $94.68 per cwt. While rib and ham prices showed slight increases, the picnic cut was the most significant loser, dropping by $7.13. The USDA estimated the Tuesday FI hog slaughter at 489,000 head, bringing the weekly total to 978,000 head. This figure is 33,000 head higher than last week’s tally and shows an increase of 993 head compared to the same week last year.
Recent Closing Prices
Here are the latest closing prices for Lean Hog futures:
- Dec 24 Hogs closed at $79.550, down $0.475
- Feb 25 Hogs closed at $82.875, down $0.400
- Apr 25 Hogs closed at $87.100, down $0.325
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All information and data are provided for informational purposes only. For additional information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
