Lean Hog Futures Surge Ahead of Holidays

Lean hog futures surged on Wednesday, with prices rising by up to $2.50, signaling a bullish market sentiment ahead of the holiday season. The USDA reported a national base hog price of $73.57, a $1.85 increase. The CME Lean Hog Index dipped by $0.80, settling at $82.81. The market will be closed on Thursday and Friday for Thanksgiving. The USDAs pork carcass cutout value increased by $2, reaching $94.25 per hundredweight, indicating a strengthening wholesale pork market. Hog slaughter was estimated at 487,000 head, below last weeks and last years numbers. December, February, and April hogs closed higher, with gains ranging from $1.975 to $2.40.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.