Lean hog futures surged at the end of August, with increases ranging from 95 cents to $1.85 by midday. The USDA reported the national base hog price at $88.73 on August 28, a decrease of 84 cents from the previous day, while the CME Lean Hog Index fell 62 cents to $91.52.
The USDA’s pork carcass cutout value rose $1.61 in the Monday PM report to $97.67, with only the butt and ham reporting declines. The belly saw a significant increase of $7.98. Additionally, USDA estimated federally inspected hog slaughter for Monday at 476,000, exceeding the count by 7,000 from the previous week.
On the futures market, October 2026 hogs closed at $83.675 (up $1.775), December 2026 hogs at $74.150 (up $1.850), and February 2027 hogs at $76.525 (up $1.550).
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