USDA and Cash Hog – April Lean Hog Correlation – 11/22/2023

Published by David Tedrow on

USDA prepares farm level cash hog price forecasts  each month. The accompanying scatter studies display the winter early spring April lean hog futures price range as a function  of the winter-spring farm level cash hog value. The red point marked USDA is the USDA’s November  2023 price forecast. $60, and the close for April lean hogs on 11/21/23  (@$79).

Note that April lean hogs (@ $79 per Cwt.) are trading near the midpoint expected based on USDA’s November farm level cash hog price projection ($60 per Cwt. for the January 2024/June 2024 average)..USDA will adjust the price forecasts as the prospective US pork supply/demand outlook changes each month. 

Categories: Livestock

Related Posts

Livestock

US Hog Inventory Increases Modestly

The USDA’s December US hog census found the herd had grown just 1% over the last year. Hog producers plan to expand the number of sows & gilts farrowed 1% over the next six months. Read more…

Livestock

USDA Reports Cattle in Feedlots Down Fractionally

US Cattle on feed December 1, 2024.was down slightly on a year over year basis. Feedlot managers have been able keep their feedlot numbers reasonably close to optimal numbers despite a tight feeder cattle supply. Read more…

Livestock

US December 1, 2024 Hog Inventory Estimate

The December 1 , 2024 US hog herd Inventory likely increased compared to a year earlier.The accompanying balance table displays estimates for the fall pig crop compared to slaughter which is by now known from Read more…