Weekly pig report: Lean hog futures rally to two-week high as bulls regain technical control
April lean hog futures climbed to $95.20, hitting a two-week high as technical buying and bargain hunting fueled renewed upside momentum
28 February 2026
2 minute read
By: Lean hog futures bulls restart price uptrend
April lean hog futures on Wednesday rose 40 cents to $95.20 and hit a two-week high. Hog futures saw more technical buying and perceived bargain hunting following the mid-February price downdraft. Bulls have re-established a price uptrend on the daily chart. The latest CME lean hog index is up 18 cents at $88.35. Today’s projected cash index price is up another 36 cents at $88.71. The national direct five-day rolling average cash hog price quote Wednesday was $67.13.
Pork Industry and related news
US/Indonesia trade deal opens major new path for US red meat exports
USMEF says agreement removes key import barriers, sets purchase commitments, and could unlock up to $500 million in export value
The US Meat Export Federation (USMEF) welcomed the newly announced US/Indonesia Agreement on Reciprocal Trade, calling it a significant breakthrough for US beef and pork exporters seeking expanded access in Southeast Asia.
According to the statement from USMEF President and CEO Dan Halstrom, Indonesia has been a top priority for the US red meat sector during recent trade negotiations. The industry views the market as strategically important — especially as US beef exporters look to diversify sales channels and offset reduced access to other major Asian destinations.
Beef market access seen as the biggest gain. USMEF says Indonesia has been largely inaccessible to US beef because of:
- A restrictive import licensing system
- Effective caps limiting volume
- Non-tariff barriers that constrained consistent supply
The new agreement reportedly addresses those barriers, which USMEF believes could allow Indonesian buyers to gain reliable, sustained access to US beef for the first time at scale.
A key component is a 50,000 metric ton annual purchase commitment, which aligns with USMEF’s own market potential analysis. The group says this volume target could help ensure Indonesia follows through on implementing the deal’s provisions rather than maintaining informal restrictions.
If fully implemented, USMEF projects US beef export value to Indonesia could reach $400 million to $500 million in the near term.
Pork exports also expected to expand. Beyond beef, USMEF highlighted meaningful gains for US pork exporters. The agreement is expected to:
- Remove import licensing constraints
- Expand approval for US processing plants
- Open opportunities for further-processed pork products
These changes could allow US pork shipments to grow in a market that historically limited market access through regulatory barriers.
The next week’s likely high-low price trading ranges:
April lean hog futures--$93.00 to $100.00 and with a sideways-higher bias
May soybean meal futures--$315.00 to $338.90, and with a sideways-higher bias
May corn futures--$4.35 to $4.56 1/4 and a sideways-higher bias
Latest analytical daily charts lean hog, soybean meal and corn futures
