April 25, 2026 — Lean hog futures closed lower on Friday, with most front-month contracts dropping 45 cents to $1.55. But the June contract managed a weekly gain of 85 cents, according to data from Barchart.
June 26 hogs settled at $94.300, down $1.350. July 26 hogs fell $1.525 to close at $104.900. The CME Lean Hog Index rose another 38 cents on April 22, reaching $91.43.
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USDA Data Shows Rising Pork Stocks
The USDA’s national base hog price was reported at $90.42 on Friday afternoon. Cold storage data released Friday showed March 31 pork stocks at 411.28 million pounds. That’s a 0.44% increase from a year ago and 2.09% above last year.
Industry watchers note that rising stocks could pressure prices in the coming weeks. Higher inventory levels suggest supply is outpacing demand.
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Managed Money Cuts Net Long Positions
Commitment of Traders data showed managed money in lean hog futures and options slashed another 22,296 contracts from their net long position as of April 21. That brought the net long to 65,591 contracts.
This suggests hedge funds and other speculators are reducing their bullish bets on hogs. The implication is that near-term price expectations are softening.
Pork Cutout Value Rises
The USDA’s pork carcass cutout value from Friday’s PM report rose $1.79 to $99.61 per cwt. Only the rib and ham primals were reported lower.
Data from the USDA shows this week’s federally inspected slaughter at 2.469 million head. That’s down 17,000 head from the previous week but 53,057 head above the same week last year.
What This Means for Traders
Higher slaughter levels and rising cold storage stocks could keep a lid on prices. But the weekly gain in June contracts suggests some bullish sentiment remains.
For more information, see the Barchart analysis on lean hog bearish signals and the Barchart trade strategy for hog price collapse.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
