Lean hog futures are down 75 cent to $1 across most contracts on Monday. USDA’s national base hog price was up $2.07 in the Monday morning afternoon report at $73.00. The CME Lean Hog Index was up 23 cents on December 11 at $82.80. 

Export Sales data showed a total of 44,900 MT of pork sold for 2025 this morning, with 11,880 MT for 2026. Combined sales were a calendar year high. Shipments were 31,220 MT, a 3-week low.

Commitment of Traders data showed a total of 13,524 contracts cut from the net long position as of November 18 to 57,988 contracts.  We will get another catchup report this afternoon.

USDA’s pork carcass cutout value from the Monday AM report was $1.22 higher to $99.43 per cwt. The picnic and ham primals was the only reported lower. USDA estimated federally inspected hog slaughter for last week through Saturday at 2.727 million head. That was 30,000 head above last week and 166,503 head above the same week last year.

Feb 26 Hogs  are at $83.650, down $0.875,

Apr 26 Hogs  are at $88.775, down $0.750

May 26 Hogs  is at $91.925, down $0.975,

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