Lean Hog Futures Decline Amid Mixed USDA Reports

Lean hog futures are currently trading lower, with losses ranging from 30 cents to $1.40 as of midday. According to reports from the USDA, the national average base hog negotiated price increased to $84.45 on Tuesday morning, marking a rise of $1.46 from the previous day. Meanwhile, the CME Lean Hog Index saw a decrease of 29 cents from the day before, settling at $89.71 on March 7.

USDA Projections Reflect Slight Decline in Pork Production

The USDA’s World Agricultural Supply and Demand Estimates (WASDE) report indicated an expected decrease in pork production for 2025, projecting it at 28.425 billion pounds. This figure represents a reduction of 105 million pounds from last month, attributed to lower production in the first quarter.

Market Update: Pork Cutouts and Slaughter Figures

In Tuesday’s report, USDA’s FOB plant pork cutout price was reported at $99.02 per cwt, an increase of 80 cents. However, the loin and butt cuts saw declines. Additionally, USDA estimated the federally inspected hog slaughter on Monday at 487,000 head, which is 2,000 head higher than the previous Monday and 29,835 head larger than the same week last year.

Current Lean Hog Futures Prices

April 25 Hogs are trading at $86.900, down $1.400.

May 25 Hogs are currently priced at $90.550, reflecting a decrease of $0.925.

June 25 Hogs stand at $98.525, down $0.300.

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 further details, please view the Barchart Disclosure Policy here.

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