January 31, 2025

Ron Finklestien

Midday Market Update: Hogs on the Rise

Lean Hog Futures Show Positive Movement Amid Mixed Export Data

Market Overview and Price Fluctuations

Lean hog futures have experienced gains of 40 to 50 cents on Thursday. However, the national average base hog negotiated price remained undisclosed due to low trading volume. As for the CME Lean Hog Index, it reached $82.59 on January 28, reflecting an increase of 48 cents from the previous day.

Export Sales and Shipment Highlights

The latest Export Sales data reveals a total of 33,551 MT of pork sold in the week ending January 23, a decline from the prior week. Notably, Mexico purchased 11,800 MT, while China accounted for 11,200 MT. Meanwhile, shipments for that week amounted to 34,122 MT, marking a significant rise of 49.5% compared to the previous week. Mexico received 12,700 MT, and the Bahamas received 4,700 MT of pork during this period.

Pork Cutout Value and Slaughter Statistics

In the Thursday AM report, USDA’s FOB plant pork cutout value decreased by 12 cents, now standing at $93.19 per cwt. Lower values were noted in the rib, belly, and ham primals. On Wednesday, federally inspected hog slaughter hit 483,000 head, leading to a total of 1.45 million head for the week thus far. This represents an increase of 102,000 head over the previous week, although it is down by 20,993 head compared to the same week last year.

Current Lean Hog Prices

As of now, February 25 Hogs are priced at $84.325, up $0.425. April 25 Hogs have reached $91.825, increasing by $0.500. Meanwhile, May 25 Hogs are currently at $95.800, up $0.475.


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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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