Hogs
Price action: October lean hog futures lost $0.675 to $79.20, near the daily low.
Fundamental analysis: The lean hog futures market saw modest technical selling resume today. The near-term chart posture in hog futures remains bearish amid a weakening cash hog market.
The latest CME lean hog index is down $0.45 at $82.47. Friday’s projected CME index price is down another 27 cents at $82.20. The national direct five-day rolling average cash hog price quote for today is $79.93. The USDA’s noon pork report today showed cutout value was up $0.18 at $87.00, led by gains in loins. Movement at midday was 134.62 loads.
USDA this morning reported net U.S. pork export sales of 35,300 MT for 2026 were up 17% from the previous week and 8% from the four-week average.
Hog trades are awaiting this afternoon’s quarterly hogs and pigs report, which is expected to show a smaller U.S. hog inventory.
Technical analysis: October lean hog futures still see the technical posture as bearish. The next upside price objective for the hog bulls is to close October futures prices above solid chart resistance at $81.475, which is the top of a downside price gap on the daily bar chart.. The next downside pr...