Lean Hog Futures Reach New Highs on Thursday Trade

Lean hog futures surged Thursday, with contracts settling 50 to 75 cents higher and hitting new contract highs. Open interest increased by 4,217 contracts. The USDA reported the national base hog price at $83.09 on Thursday afternoon, down $2.04 from the previous day. The CME Lean Hog Index rose 37 cents to $82.40 on January 20. Pork carcass cutout value was up 64 cents at $94.62 per cwt, while rib primal prices were the only exception, showing a decline. Federal-inspected hog slaughter for Thursday totaled 490,000 head, bringing the weekly total to 1.886 million head after a downward revision of 8,000 head. Prices for February, April, and May 2026 hogs closed at $88.475, $96.350, and $99.775 respectively, all higher than the previous session.