Weekly pig report: Hog futures experience downtrend

Short covering in lean hog futures. August lean hog futures on Wednesday rose $1.45 to $96.50. The hog futures market saw short covering. The near-term technicals remain firmly bearish amid a price downtrend in place on the daily bar chart. The market is still due for more of an upside corrective bounce. The latest CME lean hog index is down 16 cents at $91.93. Today’s projected cash index price is up 49 cents $92.43. The national direct five-day rolling average cash hog price quote Wednesday was $96.69.

Pork Industry and related news

Weekly USDA US pork export sales

Pork: Net sales of 16,100 MT for 2026--a marketing year-low--were down 31% from the previous week and 50% from the prior 4-week average. Increases primarily for China (4,100 MT, including decreases of 100 MT), Mexico (4,100 MT, including decreases of 1,100 MT), Canada (2,300 MT, including decreases of 400 MT), Japan (2,300 MT, including decreases of 1,300 MT), and South Korea (1,500 MT, including decreases of 200 MT), were offset by reductions for the Philippines (100 MT), Costa Rica (100 MT), Nicaragua (100 MT), and Vietnam (100 MT). Exports of 30,000 MT were down 12% from the previous week and 9% from the prior 4-week average. The destinations were primarily to Mexico (12,900 MT), Japan (5,400 MT), China (3,300 MT), South Korea (2,200 MT), and Colombia (2,100 MT).