Hogs Ease Back Lower on Thursday, as Bellies Fall Apart

Lean hog futures slipped into the Thursday close, with contracts down 12 to 40 cents. USDA’s national base hog price was reported at $88.03 on Thursday afternoon, down $1.49 from the day prior. The CME Lean Hog Index was back up 27 cents on September 1 at $90.85.

Weekly Export Sales data showed 34,978 MT of pork sold for 2026 in the week ending on August 27, back down from last week’s 12-week high. Mexico was the buyer of 17,800 MT, with 5,900 MT to China. Shipments were pegged at 29,963 MT, a 3-week high. The lead destination was Mexico of 13,800 MT, with 3,900 MT headed to Japan. 

Monthly Census data showed 528.7 million lbs of pork exports in July. That was a 3 year low for the month and down 2.1% from June.

USDA’s pork carcass cutout value fell $4.50 in the Thursday PM report, at $91.12. Bellies were being dumped, down $32.13. USDA estimated federally inspected hog slaughter for Thursday at 467,000 head, with the week to date total at 1.883 million head. That is now 18,000 head below the previous week.

Oct 26 Hogs  closed at $83.450, down $0.325,

Dec 26 Hogs  closed at $73.925, down $0.400

Feb 27 Hogs  closed at $76.600, down $0.275,

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.