Hogs - or pigs - are the often underestimated and humble livestock that have likely been domesticated for thousands of years. A global source of meat believed to be descended from the wild boars of Eurasia; pigs are unique in that they are likely livestock for settled farming communities rather than nomadic peoples since they are not easily herded for long distances. Pig, swine, shoat, piglet, boar, hog, stag, gilt, sow, or barrow; no matter how you describe them, these animals are an integral part of food and economics for many countries across the globe.
40,000 lbs (`18 metric tons)
cents per pound; minimum fluctuation is $.00025 per pound ($10 per contract)
February, April, May, June, July, August, October, December.
Floor trading is conducted 9:05 am to 1:00 pm CT; Globex trading MON 9:05 a.m. - FRI 1:55 p.m. Central Time Daily trading halts 4:00 p.m. - 5:00 p.m. Central Time
$.03 per pound above or below previous day's settlement price; none for expiring contract in last 2 trading days.
A larger percentage of hog production occurs in the Midwestern United States and the largest individual state production falls to Iowa, North Carolina, Minnesota, and Illinois.
Globally, production, consumption and exports are distributed as shown:
Sow - female swine. They can give birth to a litter of pigs twice a year, with eight to twelve baby pigs per litter.
Farrowing - the name for giving birth to baby pigs
Thiamin - a "water- soluble vitamin of the B complex" which helps change carbohydrates into energy. Yeast and pork are the most concentrated sources of this vitamin.
Finishing - a process of feeding the hogs a specific food in the time frame leading up to slaughter
In addition to the following variables, if you are trading lean hogs, you will also want to be aware that the USDA issues a Quarterly Hogs and Pigs report that details domestic hog inventories, as well as the birth rate and litter sizes for breeding sows.
Health: There are well over one hundred diseases and conditions which can affect hog health but many can be treated, managed, or controlled.
Feed Costs: Higher feed costs - particularly corn - can typically affect the weight and rate at which a farmer will take hogs to market. If farmers were to bring more hogs to market at lower weights to save on overall feed costs, this can to increase supply and possibly depress prices.
Domestic and International Demand: Like other livestock, there are regional and religious preferences which can impact the demands for pork. Certain advertising campaigns can work to increase consumption and any health concerns associated with one type of livestock can possibly result in a substitutive demand for another. Trade agreements and available markets for US exports are also of fundamental interest as well as the recent suggestion that increasing wealth in developing nations also increases the regular consumption of meat. In recent headlines, particular viral diseases may also impact the marketing and demand for pork.
The obvious end use for lean hogs is meat (pork) however; the hide, hairs, and lard are also useable products. Pork fat may be found in weed killers, cosmetics, crayons, and other commercial products.
