Tracking Deliverable Hogs.

Deliverable hogs prices are at the recent five year low, but remain well above the all time low of $18/cwt in he 1995-2020 period. Large  hog supplies and a leftward shift in domestic pork demand has pressured deliverable values. Seasonally cash hog prices have usually advanced from early spring into summer when the number of hogs reaching market weight declines.

The live hog futures market has built in nearly $6/cwt. premium for summer hogs in anticipation of reduced market weight hog supplies. That might not be enough if the US  economy is fully open by June.