Lean hog futures rose between $1.15 and $1.35 on Wednesday, supported by a national average base hog price of $98.29, exceeding the 5-day rolling average. The CME Lean Hog Index also saw an increase, reaching $93.05 on May 26. However, the USDA's pork cutout value decreased to $102.40, with only the rib primal showing an increase, while hog slaughter was estimated at 490,000 head for Wednesday, bringing the weekly total to 970,000, slightly above last year's holiday week.
Lean hog futures demonstrated upward momentum on Wednesday, with contracts for June, July, and August 2025 advancing by $1.15 to $1.35, as evidenced by the August contract settling at $103.525. This rise in futures coincided with a firmer cash market; the USDA's national average base hog negotiated price increased to $98.29, exceeding its 5-day rolling average of $96.98. Further support was indicated by the CME Lean Hog Index, which rose by 11 cents to $93.05 on May 26. Conversely, the wholesale pork market presented a mixed signal, as the USDA's FOB plant pork cutout value decreased by $1.33 to $102.40. Within this, only the rib primal appreciated, gaining $6.01, while other primals declined, suggesting selective demand patterns. Federally inspected hog slaughter was estimated at 490,000 head for Wednesday, bringing the weekly total to 970,000 head, a slight increase of 7,188 head compared to the same holiday week last year, indicating marginally higher current supply.
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