Lean Hog Futures Dip as Prices and Slaughter Numbers Decline

Market Overview and Key Price Movements

On Tuesday, lean hog futures ended the session steady to 35 cents lower. The national average base hog price decreased to $77.79 in the afternoon, marking a drop of $1.60 from the previous day. Meanwhile, the CME Lean Hog Index stood at $83.84 on December 13, down 6 cents from its prior valuation.

USDA Reports on Pork Cutouts and Slaughter Statistics

The USDA’s FOB plant pork cutout value also fell on Tuesday afternoon, decreasing by 50 cents to $94.77 per cwt. The estimated slaughter number for Tuesday was 488,000 head, bringing the weekly total so far to 975,000. This figure is slightly lower by 2,000 head compared to last week but shows an increase of 7,192 head compared to the same week last year.

February, April, and May Contracts Summary

Feb 25 Hogs closed at $83.200, down $0.350.

Apr 25 Hogs ended at $88.050, down $0.200.

May 25 Hogs finished at $91.700, down $0.275.

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 more 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.