Hogs Extend Losses as Cash Weakness Continues

Lean hog futures are extending their slide, as contracts are $2.50 to $3.22 lower at midday. USDA’s national base hog price was reported at $40.29 in the Thursday morning report, down $1.21 from the day prior. The CME Lean Hog Index was down another $1.06 on November 3 at $63.93.

Export Sales data showed 37,338 MT of pork sales in the week of October 29 for 2026 shipment, back down from last week’s 26-week high. Actual exports were tallied at 35,234 MT in that week.

USDA’s pork carcass cutout value was up 57 cents in the Thursday AM report, at $69.86. Just the loin and belly primals were reported lower. Federally inspected hog slaughter for Wednesday was estimated at 495,000 head, with the weekly total at 1.473 million head, after a 7,000 head revision to Tuesday. That is 13,000 head above last week but 2,885 head below the same week last year.

Dec 26 Hogs  are at $54.375, down $3.175,

Feb 27 Hogs  are at $59.075, down $3.225

Apr 27 Hogs are at $65.800, down $2.525,