Lean Hog Futures Rise Amid Mixed Market Conditions

Lean hog futures experienced notable increases, ranging from 25 cents to $1.20 during Tuesday’s trading session. The day’s preliminary open interest saw a boost of 11,409 contracts. As the May contract approaches expiration on Wednesday, market participants are closely monitoring price movements. The USDA reported the national average base hog negotiated price at $97.27 on Tuesday afternoon, with a five-day rolling average of $94.27. Additionally, the CME Lean Hog Index, as of May 9, decreased by 7 cents, settling at $89.92.

In the afternoon, the FOB plant pork cutout value rose by 51 cents per carcass, now standing at $97.02. However, both the loin and belly cuts reflected declines. The USDA’s estimate for federally inspected hog slaughter on Tuesday was 481,000 head, bringing the weekly total to 947,000 head. This figure is down 20,000 head compared to the previous week and shows a decrease of 178 head from the same week last year.

May 25 hogs closed at $90.975, marking an increase of $0.250. June 25 hogs finished at $99.500, up $1.200. Meanwhile, July 25 hogs were priced at $103.200, reflecting a rise of $0.725.

On the date of publication, Austin Schroeder did not hold (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 further details, please refer to the Barchart Disclosure Policy.

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