Hogs Extend Losses into Weekend: CME Lean Hog Contracts Slide, President’s Day Closes Monday

Lean hog futures extended declines into the weekend, with most contracts down 50 to 75 cents on Friday as expiring February contracts rose 20 cents. April 2026 contracts closed down $6.67 for the week. USDA’s national base hog price was $85.22, down $1.73 from the prior day, while the CME Lean Hog Index rose 37 cents to $86.89 on February 11. Monday will be closed for President’s Day. CFTC data showed managed money net long 133,281 contracts, up 4,424 for the week. USDA cutout value fell to $95.16 per cwt, with ham the only primal higher; federally inspected hog slaughter for the week was 2.497 million head, 88,000 below last week and 24,237 below the same week last year.