Lean Hog Futures Decline as Pork Exports Reach Record Levels

Lean hog futures are experiencing a downturn this Tuesday, with contracts dropping between 97 cents and $1.50. Notably, the USDA’s national average base hog negotiated price remains undisclosed as of Tuesday morning, but the 5-day rolling average stands at $92.61. The CME Lean Hog Index recorded an increase of 18 cents on May 2, reaching $89.87.

Pork Exports See Significant Growth

In March, pork exports totaled 641.02 million pounds, marking a four-year high for the month and the third-largest amount ever recorded for March, according to Census data adjusted to a carcass basis.

Pork Cutout Value Increases

Tuesday morning’s FOB plant pork cutout value rose by 73 cents per cwt on a carcass basis, now at $97.39. Notably, prices for picnic, ham, and belly cuts were all higher. The USDA reported that federally inspected hog slaughter was estimated at 482,000 head for Monday, an increase of 4,000 head from the previous week and 3,624 head more than the same week last year.

Current Lean Hog Futures

May 25 Hogs are trading at $91.275, down $0.975.

Jun 25 Hogs are listed at $97.500, down $1.500.

Jul 25 Hogs are at $99.125, reflecting a decline of $1.275.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please view the Barchart Disclosure Policy.

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