Hogs Look to April After Softer End to March

Lean hog futures fell roughly $0.40–$1.47 across most contracts on Tuesday, with the April contract down $0.05; open interest dropped 2,732 contracts. USDA's national base hog price was $90.58, down $0.34 from the prior day, and the CME Lean Hog Index also declined, signaling softer cash fundamentals and negative near-term pressure on the hog complex.

Analysis

Lean hog futures fell roughly $0.40–$1.47 across most contracts on Tuesday, with the April contract down $0.05; open interest dropped 2,732 contracts. USDA's national base hog price was $90.58, down $0.34 from the prior day, and the CME Lean Hog Index also declined, signaling softer cash fundamentals and negative near-term pressure on the hog complex.