Lean Hog Futures Experience Modest Losses Amid Mixed Market Data

Lean hog futures are experiencing slight losses, down by a tick to 67 cents on Monday. The USDA’s national average base hog negotiated price was not available on Monday morning due to low trading volume, while the 5-day rolling average stands at $90.79. Additionally, the CME Lean Hog Index increased by 27 cents from the previous day, now at $87.54 as of April 24.

Speculative Positions Rise

According to the Commitment of Traders data released Friday afternoon, speculators added 18,235 contracts to their net long positions as of April 22. This adjustment resulted in a total of 58,457 contracts.

Pork Cutout Values and Slaughter Data

On Monday morning, the pork cutout value increased by a dime to $98.14, as reported by the USDA. Notably, the picnic and ham primals saw price increases, while other cuts reported lower values. The USDA estimated last week’s federally inspected hog slaughter at 2.371 million head, reflecting an increase of 59,000 head from the previous week but a decrease of 22,156 head compared to the same period last year.

Current Futures Prices

May 25 Hogs are priced at $92.775, down $0.025.

Jun 25 Hogs are trading at $100.475, a decrease of $0.675.

Jul 25 Hogs are at $100.750, down $0.425.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned. All information provided is for informational purposes. For more details, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.