Hogs Leaking Lower on Wednesday

Lean hog futures are down 40 to 70 cents at midday, though the April contract is up 22 cents as it expires today. USDA’s national base hog price rose to $92.20, up $1.94 from the prior day, and the CME Lean Hog Index increased 6 cents. The update is mostly a routine price check with a mildly bearish futures tone.

Analysis

Lean hog futures are down 40 to 70 cents at midday, though the April contract is up 22 cents as it expires today. USDA’s national base hog price rose to $92.20, up $1.94 from the prior day, and the CME Lean Hog Index increased 6 cents. The update is mostly a routine price check with a mildly bearish futures tone.