Lean hog futures experienced a notable decline on Thursday, with prices dropping between $1.65 and $1.92 across most contracts. The USDA’s national base hog price was not reported due to low trading volumes, while the CME Lean Hog Index rose by 45 cents to $91.00 as of May 19. Pork export sales for 2026 reached a three-week high at 31,561 MT, but shipments fell to a calendar year low of 34,297 MT.
The USDA’s Thursday AM report indicated a decrease in the pork carcass cutout value, down 36 cents to $95.11 per cwt, primarily driven by lower prices in the rib and ham primals. Additionally, federally inspected hog slaughter for Wednesday was reported at 482,000 head, marking a decline from both the previous week and the same week last year.
Market professionals should note the potential implications of these trends on future pricing and demand dynamics, particularly as export sales show variability while domestic slaughter numbers remain subdued.
Source: nasdaq.com