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Lean hog futures peaked at $1.10175 per pound on March 11, 2026, and have trended lower since, falling below 80 cents on August 21. The October contract is well below its May level of just over $1.
The long-term chart still shows higher lows since 2016.
The post-grilling-season decline reflects weaker seasonal demand and heavier supplies, which pressures hog prices into fall. The long-term bullish structure limits the case for a sustained collapse.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.