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June Lean Hogs opened just above the Friday close, made the session high at 103.80 and then fell to the low of the day at 102.675. This all happened within the first 15-minutes of the day and price proceeded to drift near the low the rest of the session, settling at 103.125. The breakdown took price below the rising 21-DMA now at 103.35. This is a new low for the June contract since it took over as the lead contract. This is a critical support level for Hogs, in my opinion and price needs to rally on Tuesday or we could see more pressure build to the downside. Hogs are weakening in front of grilling season as strong production is overcoming demand needs. Exports and consumer demand are decent but production has limited the ability for the cutout and cash price to sustain strength. We get glimpses of strength and then the market pulls back. This has put traders on edge and price has declined as a result. Expectations are for the seasonality to kick in and move into a higher gear but, price is stuck behind the pace car right now and not ready to roll. Soon, the pace car will leave the track and results should improve, in my opinion. We’ll see!... If price can take out resistance at the 21-DMA, it could test resistance at 104.35. Resistance then comes in at the 13-DMA now at 105.00. A failure from settlement could see price test support at 101.975 and then move to test support at 100.075.
The Pork Cutout Index was unchanged and is at 97.92 as of 04/10/2026.
The Lean Hog Index down ticked and is at 90.28 as of 04/09/2026.
Estimated Slaughter for Monday is 492,000, which is above last week’s 367,000 and last year’s 484,666.
**Call me for a free consultation for a marketing plan regarding your livestock needs.**
Ben DiCostanzo
Senior Livestock Analyst
Walsh Trading, Inc.
Direct: 312.957.4163
888.391.7894
Fax: 312.256.0109
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