Hogs Falling Back on Thursday

Lean hog futures were lower at midday, with the expiring May contract down 42 cents and deferred contracts down $1.00 to $1.30. USDA’s national base hog price was not reported due to light volume, while the CME Lean Hog Index rose 26 cents to $90.74 on May 12. The tone is mildly negative for hog futures, but the update appears routine and likely limited in broader market impact.

Analysis

Lean hog futures were lower at midday, with the expiring May contract down 42 cents and deferred contracts down $1.00 to $1.30. USDA’s national base hog price was not reported due to light volume, while the CME Lean Hog Index rose 26 cents to $90.74 on May 12. The tone is mildly negative for hog futures, but the update appears routine and likely limited in broader market impact.