In a May 31, 2023, Barchart article, I highlighted the meat futures sector at the start of the 2023 grilling season. Live and feeder cattle futures prices were on the way to record peaks, but lean hog futures were sitting at 81.05 cents per pound. In that article, I pointed out the USDA increased cattle price forecasts but lowered hog price projections because of a glut of pork supplies.
Over the past month, lean hog futures moved to over 90 cents per pound as seasonality likely ate away at the glut.
