Ontario hog prices remained relatively stable heading into the week ending May 22, 2026, even as U.S. futures markets softened and slaughter volumes trended lower. The latest Weekly Hog Market Facts report highlights a market that continues to balance solid fundamentals with growing uncertainty surrounding summer demand and futures direction.
The Ontario 100% Base Formula Price finished the week at $226.40/cwt, up slightly from the previous week’s $224.69/cwt. While prices remain respectable historically, they continue to trail year-ago levels, when the formula price stood at $232.27/cwt.
Ontario market hog sales came in at 108,262 head, representing 95% of the previous year’s volume and reflecting a noticeable tightening compared to earlier May numbers. Average dressed weights also continued to edge lower at 106.43 kg, which may signal seasonally tighter market-ready supplies.
Meanwhile, feeder pig values held relatively firm. Ontario weaned pig values climbed modestly to $58.86 per pig, while feeder pig values reached $93.39 per pig.
On the U.S. side, federally inspected slaughter fell to 2.321 million head for the week, down from 2.469 million just four weeks earlier. Pork cutout values stabilized near $96.52/cwt, although still below year-ago levels of $100.68/cwt.
One of the more notable developments came from the futures market. CME Lean Hog futures experienced a sharp pullback across nearly every contract month. June 2026 futures dropped to $95.75/cwt from $101.90 just four weeks earlier, while July futures slipped to $100.40/cwt. Deferred contracts also softened significantly, reflecting broader caution in the market outlook heading into summer.
Feed markets showed mixed movement during the week. Western Ontario feed corn closed at $268.92/tonne, while soybean meal pricing remained elevated at $549.95/tonne. Chicago soybean futures strengthened slightly week-over-week, while corn futures remained relatively rangebound.
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