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,

On the date of publication, Austin Schroeder did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.