Hogs Extend Losses to Wednesday

Lean hog futures fell 57 cents to $1.72 at Wednesday’s close, with open interest showing 2,867 contracts rolling out of the June contract and the rest of the board up 2,229. USDA’s national base hog price was $94.59 on Wednesday afternoon, down 86 cents from the prior day. The update points to softer pricing and active contract rolling, but the move appears modest rather than market-changing.

Analysis

Lean hog futures fell 57 cents to $1.72 at Wednesday’s close, with open interest showing 2,867 contracts rolling out of the June contract and the rest of the board up 2,229. USDA’s national base hog price was $94.59 on Wednesday afternoon, down 86 cents from the prior day. The update points to softer pricing and active contract rolling, but the move appears modest rather than market-changing.