Lean hog futures closed down 80 cents at $2.62, reflecting ongoing volatility in the market as managed money continues to liquidate positions. The USDA reported a national base hog price of $93.23, a decrease of 41 cents from the previous day, while the CME Lean Hog Index rose by 34 cents to $90.92. Notably, managed money has reduced its net long position to just 12,985 contracts, the lowest level since August 2024.
This decline in futures and the reduction in long positions signify a cautious sentiment among traders, particularly as export sales data showed a decrease in pork sales for 2026, with Mexico and Japan being the primary buyers. Additionally, the USDA’s pork carcass cutout value edged up slightly, but the overall market remains pressured by lower shipments and slaughter numbers.
Market participants should closely monitor these trends, as ongoing liquidation and export dynamics could further impact lean hog prices and overall market sentiment in the coming weeks.
Source: nasdaq.com