Lean hog futures pushed back against the limit losses from Monday, with contracts up $3 to $3.40 and the February contract up 75 cents. The national average base hog negotiated price was reported at $85.40 on Tuesday afternoon. The CME Lean Hog Index was reported at $83.77 on January 31, up 29 cents from the previous day.
The tariff threat on Mexico and Canada has been set aside for now, with pork excluded from China’s retaliatory measures overnight.
USDA’s FOB plant pork cutout value rose 95 cents in the Tuesday PM report to $94.76 per hundredweight. The belly was the only primal reported lower; the other primals increased 16 cents to $3.67, led by the ham. Federally inspected hog slaughter for Tuesday was estimated at 490,000 head, bringing the week-to-date total to 975,000 head. This figure is 12,000 head above last week and down 4,462 head from the same week last year.
February 2025 hogs closed at $85.075, up $0.750.
April 2025 hogs closed at $89.750, up $3.400.
May 2025 hogs closed at $93.750, up $3.025.
