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October Lean Hogs opened lower, rallied to the high at 82.925 and then broke down the rest of the session to the low at 81.35. It bounced into the close and settled near the low at 81.725. Traders started the session enthusiastic as the Friday cutout showed signs of life, rising over a buck on a strong load count. The enthusiasm didn’t last long as the morning cutout was lower and traders reversed course and pressured hogs. The morning rally tested resistance at the declining 13-DMA now at 83.00 and the key level just above it at 83.325. The breakdown took price below the key level at 81.70 and settlement was a tick above it. Hogs are in a range with the high up at 84.40 and the low at 81.175. It is back in the low end of the range and with the cutout once again showing weakness we could see futures breakdown below the low end of the trading range. The cash market looks like it is in a seasonal downward direction and we could see the cash market revisit their recent lows. This seems to be incentivizing fund selling as they added to their short position. We’ll see!... A failure from the Monday low could see price test support at 80.40. Support then comes in at 79.80. If price can hold settlement, it could re-test resistance at the declining 13-DMA and then the 83.325 key level. Resistance then comes in at the declining 21-DMA now at 84.875.
The Pork Cutout Index decreased and is at 100.45 as of 08/14/2026.
The Lean Hog Index decreased and is at 95.68 as of 08/13/2026.
Estimated Slaughter for Monday is 484,000, which is above last week’s 465,000 and last year’s 479,980.
**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
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