Lean hog futures are pushing back higher on Thursday, with gains of $1.75 to $2.10. The national average base hog negotiated price from USDA was not reported on Thursday morning due to lighter volume. The CME Lean Hog Index was back down 2 cents from the previous day on March 4 at $90.20.
President Trump is delaying putting a pause on all tariffs that fall under the USMCA umbrella from Mexico by a month. There has not been any mention of a reprieve on the Canadian tariffs, though previous statements have indicated there was an exemption likely.
Export Sales data showed 42,449 MT in pork export business for 2025 in the week of 2/27. That was the second largest total for this MY and 16.6% above the same week last year. Shipments totaled 32,235 MT, back down from the week prior, but up 0.8% from the same week in 2024.
Census data converted to a carcass basis showed 576.82 million lbs of pork shipped in January, which was down 1.9% from last year and 10.7% below December.
Thursday morning’s FOB plant pork cutout value from USDA was back up 85 cents to $97.33 per cwt. The belly was the only primal reported lower, down $1.24. USDA estimated the Wednesday Federally inspected hog slaughter at 409,000 head, hindered by the weather and transportation issues, with the week to date total at 1.375 million head. That is 94,000 head below last week and 46,380 head behind the same week last year.
Apr 25 Hogs are at $86.775, up $2.075,
May 25 Hogs are at $89.250, up $1.775
Jun 25 Hogs is at $96.500, up $1.925,
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.
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