Hogs Continue Mixed Trade on Thursday, as July Remains Weak

Lean hog futures showed mixed movement on Thursday as July contracts fell while other maturities rose. July was down 60 cents, while other contracts were up 12 to 35 cents. USDA’s national base hog price was not reported that morning, and the CME Lean Hog Index increased 38 cents on June 23 to $91.85. Ahead of USDA’s quarterly Hogs and Pigs report on Thursday, a Reuters survey projected that June 1 hog inventory would rise 0.9% year over year, with breeding hogs down 0.7% and market hog inventory up 1.1%. The March-May pig crop was expected up 1.2%, with farrowings down 0.2%. USDA export sales showed pork sales for 2026 at 26,229 MT for the week ending 6/18 and shipments of 32,007 MT. Federally inspected hog slaughter for Wednesday was estimated at 487,000 head.