Hogs Start Week on a Positive Note

If you would like to receive more information on the commodity markets, please use the link to join our email list  - Sign Up Now 

For those interested I hold a weekly livestock webinar on Tuesdays, and my next webinar will be Tuesday, August 05, 2025, at 3:15 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar.

Sign Up Now

October Lean Hogs opened higher, made the low at 90.225 and then traded to the high at 91.375. It pulled back and then settled in the middle of the range at 90.90. The trade was effectively over at 9:30 AM CT, with a tight range and the price action moving into the upper end of the trading range the October contract has established since taking over as the lead contract. The trading range is from the July 24^th high at 91.975 to the August 1^st low at 87.925. Hogs opened just below the key level at 90.40, made the low and then tried to trade up to the July 24^th high but it couldn’t get there. Price is revolving around this key level and has been unable to break away from it. When it made the low on August 1^st, it came right back to it and then rising above it on Monday. Eventually the price action will move away from it and will likely be led by what happens to the cutout. It has been up and down and the index choppy. This has put some pressure on the cash market as the index has stagnated above 110.00. Slaughter levels have declined but is still expected to move higher as we go into fall. Weights have worked lower and remain below last year. This has seen production decline as we move into the dog days of summer. The tariff situation has stabilized for the moment and the Dollar has moved lower. This may help our exports and keep demand on the strong side. We have the Labor Day Holiday coming up so we may see a stronger cutout going forward. Can this provide support for Hogs or will the expected increase in slaughter weigh on price? We’ll see!... If price can take out the Monday high, we could see price test resistance at the July 24^th high at 91.975. Resistance is nearby at 92.375 and the rising 200-DMA now at 92.425 is next. A failure from settlement could see price revisit support at 90.40. Support then comes in at 88.325. 

The Pork Cutout Index decreased and is at 116.24 as of 08/01/2025. 

The Lean Hog Index down ticked and is at 110.26 as of 07/31/2025.

Estimated Slaughter for Monday is 425,000, which is below last week’s 442,000 and above last year’s 409,211.

**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

bdicostanzo@walshtrading.com

www.walshtrading.com

Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.​
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.​

All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall not be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.