Markets / Lean Hogs
Lean Hogs
Dec Hogs futures · $ per hundredweight
Lean Hogs is down 10.1% since January 1. By this point in a typical year (2021–2025) it was up 16.2%. From here to year-end, the price rose in 0 of the last 5 years, down 9.5% on average. Front-month futures. Past patterns don't predict prices; weather, demand and policy change every year.
As of Tuesday, Oct 6, hedge funds and commodity advisors are net short 41,504 contracts (more bullish than the week before, +9,131). That's more bullish than 2% of weeks in the last 3 years. When funds are this one-sided, a surprise can trigger fast moves the other way as they get out. CFTC Commitments of Traders, Disaggregated Futures Only. Published Fridays with Tuesday's positions.
Every contract month
Lean Hogs futures trade Feb, Apr, May, Jun, Jul, Aug, Oct, Dec only; there are no other months.
Deferred months are priced above Dec Hogs (a carry): the market is paying to store it.
| Month | Last | Change | vs. Dec |
|---|---|---|---|
| Dec Hogs | 68.10 | -$0.28 | — |
| Feb Hogs | 70.00 | -$0.30 | +$1.90 |
| Apr Hogs | 75.17 | +$0.10 | +$7.08 |
| May Hogs | 80.50 | +$0.40 | +$12.40 |
| Jun Hogs | 89.17 | +$0.47 | +$21.08 |
| Jul Hogs | 91.47 | +$0.62 | +$23.38 |
| Aug Hogs | 91.83 | +$0.70 | +$23.73 |
| Oct 27 Hogs | 79.50 | +$0.53 | +$11.40 |
| Dec 27 Hogs | 73.50 | +$0.80 | +$5.40 |
| Feb 28 Hogs | 75.67 | unch | +$7.58 |
Text me when Dec Hogs hits my number
Pick the month and the price. We text you the second it trades there, plus hogs at 10:00 and 2:00.
Set up Dec Hogs alertsQuarterly Hogs and Pigs
All hogs and pigs September 1: 74.3 million head, 2% below a year ago. Breeding herd 5.88 million, 1% below a year ago. June-August 2026 pig crop 34.5 million, down 2% from last year.
Why it moved
No single news story drove hogs higher today. It went against live cattle (-0.21%), which were lower.
Reports coming up
- Fri Oct 23Cattle on Feed2:00pm CT
- Fri Oct 23USDA Cold Storage2:00pm CT
About this market
CME lean hogs, 40,000 lb carcass weight, cash-settled.