Lean hog futures are rising, with midday gains ranging from 30 to 67 cents across front months. The USDA’s national base hog report indicated a 5-day rolling average price of $108.77, while the CME Lean Hog Index decreased by 26 cents to $106.17 on August 27.
As of August 26, speculators had increased their net long position in lean hog futures and options by 8,274 contracts, bringing the total to 114,042 contracts. The USDA reported that the FOB plant pork cutout rose by 97 cents to $115.29 per cwt, despite a total hog slaughter of 2.391 million head last week, which was 19,000 head lower than the previous week and down 36,648 from the same week last year.
Current prices include Oct ’25 Hogs at $95.325 (up $0.300), Dec ’25 Hogs at $88.075 (up $0.675), and Feb ’26 Hogs at $90.100 (up $0.475).
