Lean hog futures are trading with contracts down 17 to 90 cents at midday. USDA’s national base hog price was not reported at $91.52 on Monday morning due to light volume. The CME Lean Hog Index was down 2 cents on May 14 at $90.46.

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 Monday AM report was up $1.64 at $99.20 per cwt. The picnic 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 are at $98.575, down $0.175,

Jul 26 Hogs are at $102.950, down $0.400

Aug 26 Hogs are at $103.325, down $0.825,

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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