
The USDA February Livestock, Dairy, and Poultry Outlook projects 2026 pork production near 28.3 billion pounds, about 2.5% above 2025. Second-quarter output was trimmed on tighter slaughter-ready hog supplies, and demand fundamentals are described as strong.
Spot hog prices are also cited as a signal of tightening availability.
Tighter market-ready hog supplies and firm demand point to supported hog prices through the spring. Production growth is modest, so it is unlikely to outweigh the demand strength.
After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
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.