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Little Change on Cash Hogs



December 2023 Lean Hogs settled at $70.35 on December 20th.  The CME Lean Hog Index is at $75.09 and $4.74 over December 2023 futures.  Packers are in the black. Weights are increasing.  Trade volume was light Monday as it has been over the past month.  Essentially, there has been little change on cash hogs and pork.  Lean Hog futures are bear spread.

Hog lying down


Going into 2024, the cattle market will depend on what beef prices do.  With consumers concern about inflation and how they have already been buying lower priced beef with more cattle placed, prices will continue to work lower. Cattle grades are improving in Texas. The weather is helping feed conversions.

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