Hogs Make a Comeback This Thursday

Lean Hog Futures See Notable Gains

Lean hog futures ended Thursday with significant increases, rising between $1.07 and $1.65 by the close of trading. The USDA reported the national base hog price at $69.37 on Thursday afternoon, reflecting a $3.24 decrease from the previous day. Meanwhile, the CME Lean Hog Index dropped by 29 cents on January 6, settling at $81.25.

Pork Export Sales and Shipments

According to the latest USDA Export Sales report, 27,700 metric tons of pork were sold during the week ending January 1. Mexico led purchases with 12,800 metric tons, followed by Japan at 8,700 metric tons. Pork shipments totaled 25,750 metric tons for 2025, with an additional 394 metric tons scheduled for 2026.

Industry Highlights

Pork Export and Slaughter Data

Data converted to a carcass weight basis revealed that pork exports in October reached a record 632.2 million pounds, marking a 15.9% increase over September's total.

The USDA's Thursday afternoon report indicated that the pork carcass cutout value fell by $1.50 to $90.79 per hundredweight, with only the loin primal showing an increase. Federal estimates put Thursday's hog slaughter at 496,000 head, bringing the weekly total to 1.977 million—an increase of 73,159 head compared to the same period last year.

Recent Hog Futures Settlements

• February 26 Hogs closed at $85.875, up $1.075
• April 26 Hogs ended at $91.925, up $1.650
• May 26 Hogs finished at $95.950, up $1.350