Hogs Showing Slight Thursday Weakness

Lean hog futures were trading down 7–15 cents at midday; USDA’s national base hog price was reported at $90.92, down $0.35 from the prior day, and the CME Lean Hog Index fell $0.06 to $91.65 on March 24. The data point to modest bearish pressure in the hog complex and are likely to have limited market impact absent larger supply or demand developments.

Analysis

Lean hog futures were trading down 7–15 cents at midday; USDA’s national base hog price was reported at $90.92, down $0.35 from the prior day, and the CME Lean Hog Index fell $0.06 to $91.65 on March 24. The data point to modest bearish pressure in the hog complex and are likely to have limited market impact absent larger supply or demand developments.