Lean hog futures posted 50 to 97 cent losses on Thursday. USDA’s national base hog price was reported at $108.00 on Thursday afternoon, down $2.51 from the previous day. The CME Lean Hog Index was up 97 cents at $111.41 on June 24.

The quarterly Hogs & Pigs report from NASS showed a 0.33% increase in all hog inventory at the beginning of June to 75.137 million head. That was above the analysts’ estimates calling for a 0.4% drop from a year ago. Market hogs were up 0.4%, with hogs kept for breeding down 0.48%.  March to May farrowings were down 0.45% at 2.907 million head, with June to August intentions at 2.974 million, s 0.37% drop from last year. The March-May pig crop was 1.27% larger yr/yr to 34.171 million head.

USDA’s Export Sales report showed 51,432 MT of pork sold for 2025 in the week ending on June 19. That was a 12-week high. Of that total, 30,600 MT was sold to Mexico, with 5,600 MT to South Korea. Shipments were the largest for the calendar year at 39,893 MT. Mexico was the destination of 16,000 MT, with 5,000 MT headed to China. 

USDA’s Thursday morning FOB plant pork cutout value was back down $2.16 at $119.65. The loin was the only primal reported higher. Federally inspected hog slaughter for Thursday was estimated at 473,000 head by USDA, with the weekly total at 1.887 million head. That is down 2,000 head from last week but 3,452 head below the same week last year. 

Jul 25 Hogs  closed at $112.325, down $0.500,

Aug 25 Hogs  closed at $110.250, down $0.975

Oct 25 Hogs  closed at $94.875, down $0.850,