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April Lean Hogs gap opened lower, rallied to close the gap at the high at 95.50 and then traded to the session the session low at 94.10. It recovered and rallied to settle at 94.825. The bounce at the open to close the gap took price to resistance at 95.30 and the break to the low took price to the February 24th low at 94.075. Hogs held up well with the rest of the markets including the cattle markets spiraling out of control. With Crude Oil trading past 100.00 and Equity markets crashing, Hogs down 1.50 is a win for the hog market. The cash market continues do well with both indices continuing higher. The cutout for Monday also broke 100 for the first time in months, breaking out of its trading range as the packing industry able to get higher prices in a time when prices normally work lower. This has helped cash prices for producers and has traders bullish Hogs, in my opinion. With Hogs holding up reasonably well in the face of turmoil in the outside markets, what will happen when the rest of the markets calm down? We’ll see!... If price can rally past resistance at 95.30, we could see a re-test of resistance at 97.30. Resistance then comes in at 98.475. A failure from settlement could see price re-test the Monday low. Support then comes in at 93.50.
The Pork Cutout Index increased and is at 98.66 as of 03/06/2026.
The Lean Hog Index increased and is at 90.74 as of 03/05/2026.
Estimated Slaughter for Monday is 493,000, which is above last week’s 475,000 and last year’s 486,890.
**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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