Hogs Look to New Week

May 18, 2026 at 08:27 AM EDT

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Lean hog futures posted 12 cent to $1.32 losses across the board on Friday, with June settling with a 12 cent gain on the week. Open interest was down 692 contracts on Friday. USDA’s national base hog price was reported at $91.52 on Friday afternoon, down $1.80 from the day. The CME Lean Hog Index was back down 26 cents on May 13 at $90.48.

On Sunday, the White House released a fact sheet on the US/China talks from last week, in part stating that “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.”

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CFTC data showed managed money cutting back 10,222 contracts from their net long position in the week ending on 5/12 to 40,860 contracts.

USDA’s pork carcass cutout value from the Friday PM report was up $1.01 at $97.56 per cwt. The belly and rib primals were the only reported lower. USDA estimated federally inspected hog slaughter for last week through Saturday at 2.366 million head. That is down 84,000 head from the previous week and 16,192 head below the same week last year.

Jun 26 Hogs closed at $98.750, down $0.775,

Jul 26 Hogs closed at $103.350, down $1.200

Aug 26 Hogs closed at $104.150, down $1.325,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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