
Lean hog futures prices rallied 19.60% in 2024, closing last year at the 81.30 cents per pound level on the nearby CME lean hog futures contract. In my early January quarterly Barchart article on the animal protein sector, I concluded:
The trend is always your best friend in markets, and it has been bullish in live and feeder cattle and lean hog futures since the April 2020 lows. As the animal protein markets move into 2025, prices remain on a bullish path. The peak grilling season begins in May and runs through September when the demand increases, and prices often reach seasonal highs. However, the potential for U.S. tariffs in 2025 could cause the most volatility in beef and pork prices.
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