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USDA forecasts 2026 hog prices at $67/cwt, down 2.6% from 2025, and 2026 pork production at 28.215 billion pounds, up 2.3%. Pork cold storage stocks were lower in every month of 2025 than in 2024.
Futures expect carcass hog prices to rally to $108 by midsummer.
Lower cold storage and expected summer seasonal strength support hog prices despite higher output. Producers' margins depend on whether the seasonal rally materializes.
nationalhogfarmer.comRon PlainJan 26, 2026After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
