Lean hog futures closed with losses ranging from 7 to 70 cents across the front months on Thursday. The USDA’s national base hog price was reported at $86.58 on Thursday afternoon, down 24 cents from the day prior. Meanwhile, the CME Lean Hog Index was 23 cents higher on February 3, settling at $86.06.
The weekly Export Sales report indicated that 35,107 metric tons (MT) of pork were sold in the week ending January 29. This figure is down 37.3% from the previous week and 30.7% below the same week last year. Mexico was the top buyer, purchasing 13,800 MT, followed by China with 5,200 MT.
Export shipments for the week totaled 37,622 MT, representing a 4.7% increase compared to the same week last year. Mexico received 16,900 MT, while Japan was shipped 4,300 MT.
USDA’s pork carcass cutout value, reported on Thursday afternoon, rose by $2.27 to $95.27 per hundredweight (cwt). The rib primal was the only cut reported lower, whereas the belly led the gains with an increase of $6.38.
USDA estimated federally inspected hog slaughter on Thursday at 450,000 head, pushing the weekly total to 1.903 million head. This was 38,000 head more than last week but 26,824 head fewer than the same week last year.
Lean hog futures closed as follows:
– February 2026 Hogs: $87.30, down $0.70
– April 2026 Hogs: $98.375, down $0.075
– May 2026 Hogs: $101.50, down $0.25
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**Disclaimer:** On the date of publication, Austin Schroeder did not hold positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data presented are solely for informational purposes. For more details, please review the [Barchart Disclosure Policy](https://www.barchart.com/disclosure).
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**Additional Market Insights:**
– Live and feeder cattle rally on USDA COF report; lean hogs show strong technical signals.
– Analysis of cattle and hog trends in Q4 2025 and prospects for Q1 2026 and beyond.
– Lean hog prices climbing amid record-high beef prices—exploring potential upside.
– Cattle and hog prices appear to have bottomed; prepare for potential gains ahead.
*The views and opinions expressed in this article are those of the author and do not necessarily reflect the positions of Nasdaq, Inc.*
https://www.nasdaq.com/articles/hogs-close-thursday-losses