Lean Hog Futures Decline as Pork Prices Show Mixed Trends

Lean hog futures are down 37 to 65 cents at midday. The USDA reported a national average base hog negotiated price of $92.45 on Thursday morning, reflecting a decrease of $4.15 from the previous day. Additionally, the CME Lean Hog Index increased by 49 cents on May 20, reaching $92.34.

Exports Show Positive Momentum

Weekly Export Sales data revealed that a total of 37,391 metric tons (MT) of pork were sold in the week of May 15, marking a 7-week high. Mexico was the leading buyer, purchasing 14,400 MT, while China acquired 7,800 MT. Weekly shipments totaled 28,547 MT, the highest in five weeks. The largest recipient was Mexico, receiving 12,800 MT, followed by Japan with 4,400 MT.

Pork Cutout Values and Slaughter Statistics

According to USDA figures, the FOB plant pork cutout value was reported at $100.61 on Wednesday afternoon, an increase of 57 cents. However, the butt, rib, and ham primals saw declines, offset by a rise of $6.39 in the bell. Federally inspected hog slaughter for Wednesday was estimated at 485,000 head, bringing this week’s total to 1.449 million head. This number is up by 16,000 from the previous week and 12,760 higher than the same week last year.

Current Lean Hog Prices

June 25 Hogs are priced at $98.875, a decrease of $0.650.

July 25 Hogs are listed at $101.950, down $0.575.

August 25 Hogs are at $101.975, a decline of $0.375.

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 provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy.

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