For those interested I hold a weekly livestock webinar on Tuesdays, and my next webinar will be Tuesday, June 30, 2026, at 3:15 pm. It is free for anyone who wants to sign up and the link for sign up is below. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar.
August Lean Hogs opened lower and broke down to the session low at 95.425. The breakdown took price towards recent lows and support at 95.30. Support held as cutouts showed some strength, giving hope that demand is building for pork. Cutouts have rebounded to near its recent high after a breakdown to the low 90’s. The one day for Monday came in up 2.29 to 97.66 which could be the start of a rebound as hog weights are expected to come down as high heat could pressure hog weights which could lower production. The rally in hogs on Monday took price back to resistance at 97.30, making the high just above it at 97.425. Settlement was just below the key level at 97.275. This puts futures in the upper end of its recent trading range of 98.375 to 94.75 for the lead contract. Hogs have struggled as exports have dipped and consumer demand hasn’t improved. I am being told that in order to move the loin, retail stores have to drop the price to $1.99 per pound to get interest from the consumer or else the product would go unsold and expire. Meanwhile the consumer goes wild for beef at 5 to 10 times that price. With last week’s slaughter lower than last year for the first time in a while and a bullish Hogs and pigs report, in my opinion, we may finally get to see the cutout turn higher. All we need is for demand to get better and hog weights to go down as expected to get lower production and possibly stronger price action as a result. We’ll see!… A failure from settlement could see price re-test support at 95.30. Support then comes in at 93.50. If price can take out resistance at 97.30, it could test resistance at 98.475. Resistance then comes in at 100.075.
The Pork Cutout Index decreased and is at 95.13 as of 06/26/2026.
The Lean Hog Index decreased and is at 91.55 as of 06/25/2026.
Estimated Slaughter for Monday is 485,000, which is above last week’s 456,000 and last year’s 468,314.
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