Weekly pig report: hog futures experience downtrend
The hog market is currently due for a corrective increase
19 June 2026
2 minute read
By: Short covering in lean hog futures. August lean hog futures on Wednesday rose $1.45 to $96.50. The hog futures market saw short covering. The near-term technicals remain firmly bearish amid a price downtrend in place on the daily bar chart. The market is still due for more of an upside corrective bounce. The latest CME lean hog index is down 16 cents at $91.93. Today’s projected cash index price is up 49 cents $92.43. The national direct five-day rolling average cash hog price quote Wednesday was $96.69.
Pork Industry and related news
Weekly USDA US pork export sales
Pork: Net sales of 16,100 MT for 2026--a marketing year-low--were down 31% from the previous week and 50% from the prior 4-week average. Increases primarily for China (4,100 MT, including decreases of 100 MT), Mexico (4,100 MT, including decreases of 1,100 MT), Canada (2,300 MT, including decreases of 400 MT), Japan (2,300 MT, including decreases of 1,300 MT), and South Korea (1,500 MT, including decreases of 200 MT), were offset by reductions for the Philippines (100 MT), Costa Rica (100 MT), Nicaragua (100 MT), and Vietnam (100 MT). Exports of 30,000 MT were down 12% from the previous week and 9% from the prior 4-week average. The destinations were primarily to Mexico (12,900 MT), Japan (5,400 MT), China (3,300 MT), South Korea (2,200 MT), and Colombia (2,100 MT).
US pork exports to Mexico hit record pace through April
Japan rebounds while Dominican Republic posts near-record month
US pork exports to Mexico reached 403,675 metric tons in the first four months of 2026, up 5% year over year and valued at just under $900 million, putting shipments on a record annual pace, according to the US Meat Export Federation (USMEF).
April exports to Mexico totalled 94,538 mt, up 3% from a year ago, with value climbing 7% to $211.4 million. Pork variety meat shipments to Mexico through April reached 58,713 mt, up 6%, valued at $104.3 million.
However, USMEF warned that May data will reflect a major disruption in variety meat trade after Mexico halted imports of skins, fat, feet and other offal items following findings of pseudorabies virus (PRV) antibodies in US hogs. Restrictions, which initially applied regardless of state of origin, were narrowed as of June 8 to products sourced from hogs from farms in Iowa or Texas. USMEF said it hopes to see restrictions lifted once a second round of PRV testing is completed and a final USDA report is submitted to the World Organisation for Animal Health.
Japan's demand for US pork continued to rebound in April, with exports reaching 32,682 mt, up 9% year over year, valued at $122.1 million. Through April, exports to Japan were 17% above last year's pace at 123,458 mt, with value up 11% to $467.9 million. Shipments have exceeded year-ago levels for five consecutive months.
Exports to the Dominican Republic surged 57% in April to 11,622 mt, valued at $33.7 million, the second highest monthly value on record. March had set a record at nearly $36 million. For January through April, exports to the Dominican Republic were 38% above last year's pace at 41,606 mt, with value up 35% to $121.1 million.
The next week’s likely high-low price trading ranges:
August lean hog futures--$92.00 to $98.00 and with a sideways-lower bias
July soybean meal futures--$300.00 to $315.00, and with a sideways bias
July corn futures--$4.06 1/4 to $4.30 and a sideways bias
Latest analytical daily charts lean hog, soybean meal and corn futures
