Lean Hog Futures Slip as Market Faces Downward Pressure
Tuesday brought a wave of selling across hog futures markets, with lean hog contracts retreating 67 cents to settle at $1.40. The broader weakness was reflected across multiple price benchmarks, as USDA's national base hog price dropped 58 cents from Monday's close to $75.56. Meanwhile, the CME Lean Hog Index declined sharply by 94 cents on November 14, finishing the session at $87.00.
The weakness extended to processed products as well. USDA's pork carcass cutout value fell $1.62 to $95.39 per cwt in the Tuesday evening report. Within th
Tuesday brought a wave of selling across hog futures markets, with lean hog contracts retreating 67 cents to settle at $1.40. The broader weakness was reflected across multiple price benchmarks, as USDA's national base hog price dropped 58 cents from Monday's close to $75.56. Meanwhile, the CME Lean Hog Index declined sharply by 94 cents on November 14, finishing the session at $87.00.
The weakness extended to processed products as well. USDA's pork carcass cutout value fell $1.62 to $95.39 per cwt in the Tuesday evening report. Within th