Mixed Trends in Lean Hog Futures Amid Changes in Prices

Current Market Snapshot

Lean hog futures experienced a mix of movements, with some contracts rising by 45 cents while others fell by 35 cents. On Thursday afternoon, the national average base hog price was reported at $76.15, marking a decrease of $1.28 compared to the previous day. Additionally, the CME Lean Hog Index stood at $83.85 on October 15, down 23 cents from the prior day.

Pork Cutout Value and Slaughter Estimates

The USDA’s FOB plant pork cutout value was reported at $96.41 per hundredweight in the Thursday PM release, reflecting an increase of $1.56 from the previous day. Notably, the rib was the only primal reported lower, while the belly led gains with an increase of $5.65. Furthermore, the USDA estimated Thursday’s hog slaughter at 486,000 head, bringing the weekly total to 1.932 million head, which is a rise of 4,000 head from the previous week and an increase of 6,334 head compared to the same week last year.

Closing Prices for Lean Hog Futures

Dec 24 Hogs closed at $77.675, marking a slight decrease of $0.025.

Feb 25 Hogs closed at $81.550, reflecting an upswing of $0.450.

Apr 25 Hogs closed at $85.125, showing a modest increase of $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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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