Lean hog futures were down 80 cents to $2.62 at the close, as June was up just a dime on the week. USDA’s national base hog price was reported at $93.23 on Friday afternoon, down 41 cents from the day prior. The CME Lean Hog Index was back up 34 cents on May 27 at $90.92.
Managed money continues to liquidate their once large net long position in lean hog futures and options, cutting another 20,728 contracts to a net long of just 12,985 contracts. That is the smallest net long since August 2024.
Export Sales data from USDA showed pork sales for 2026 at 32,874 MT for the week ending on 5/21, back down from the week prior. Mexico was the buyer of 19,500 MT, with 3,500 MT sold to Japan. Shipments were tallied at 33,491 MT, a calendar year low. Mexico was the destination of 14,700 MT, with 5,300 MT to Japan.
USDA’s pork carcass cutout value from the Friday PM report was up 34 cents at $99.45 per cwt. The butt, ham, and belly primals were reported lower. USDA estimated federally inspected hog slaughter for the week at 2.143 million head. That is down 7,313 head from the same holiday week last year.
Jun 26 Hogs closed at $95.850, down $1.125,
Jul 26 Hogs closed at $99.500, down $2.625
Aug 26 Hogs closed at $98.350, down $2.575,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions 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.
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