ANALYSIS: CME Hog Futures Fall to Fresh Lows on Dull Domestic Demand

The most actively traded June contract rounded out last week with a $3.375 loss at $83.775 per cwt, a 23% decline from the start of the year. While the futures board continues to anticipate a seasonal increase in prices during the summer months, the advances have slowed drastically from what was anticipated in early 2023 amid a clouded outlook for pork demand heading into peak grilling season. 

On the year so far, the cash market has declined by about 5.1% and is 29% below year-ago levels, based on USDA’s national weighted 

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