Pig outlook: Lean hog futures bulls regain momentum
Livestock analyst Jim Wyckoff reports on global pig news
8 August 2025
2 minute read
By: August lean hog futures Wednesday hit a five-week high early on and then saw some mild profit-taking pressure, following the recent gains. Technicals have turned more bullish for the hog futures market recently. Record high live and feeder cattle futures prices scored this week remain a bullish element for the hog futures market. The latest CME lean hog index is down another 43 cents to $109.56. Thursday’s projected cash index price is up 4 cents to $109.60. The national direct five-day rolling average cash hog price quote Wednesday was $112.49.
China wants its hog producers to scale back
China is urging top hog farmers to scale back breeding herds by about 2%, the latest push to reduce oversupply in the country’s food sector, which has sparked concerns over deflation. Farmers’ representatives are expected to gather next week to discuss effective ways to shrink sow herds by 1 million, along with other measures to rein in pork production, China’s state-backed official husbandry association said in a notice, as reported by Bloomberg. China has organized meetings to discuss reining in pork production recently, signaling Beijing’s commitment to support prices of the country’s most consumed meat. China is the world’s top pork producer and consumer. However, consumption of pork in China has been tepid due to a slowing economy that has strained consumers’ purchasing power. China’s pork prices have dropped nearly 20% in the past year, said the report.
Tyson Foods raises full-year revenue forecast
This comes after Tyson posted stronger-than-expected third-quarter results, driven by resilient consumer demand for chicken and ready-to-eat meals. The company now expects 2025 revenue to grow 2%–3%, up from a prior forecast of flat-to-1% growth. While profit margins expanded in Tyson’s chicken and prepared foods segments, its beef business worsened due to tight U.S. cattle supplies. Tyson expects beef losses between $375 million and $475 million this fiscal year. Chicken operating income, by contrast, is now projected at $1.3–$1.4 billion — an upward revision. Third-quarter net sales rose 4% to $13.88 billion, beating expectations, while adjusted earnings hit 91 cents per share versus a 78-cent forecast. Tyson shares rose nearly 5% in premarket trading.
The next week’s likely high-low price trading ranges:
August lean hog futures--$107.00 to $111.00 and with a sideways-higher bias
September soybean meal futures--$265.00 to $285.00, and with a sideways-higher bias
December corn futures--$4.00 to $4.20 and a sideways-higher bias
Latest analytical daily charts lean hog, soybean meal and corn futures
