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April lean hog futures went limit-down by $4.00/cwt on Feb. 3 after reports that new US tariffs would hit major trading partners, including Mexico, which takes over 25% of US pork exports.
Trump and Mexican President Sheinbaum then agreed to delay new tariffs on Mexico until March 1, while China launched targeted retaliatory tariffs.
Potential loss of Mexican pork export demand would leave more pork at home and push domestic hog prices lower. The trade dispute keeps hog futures volatile.
barchart.comJim WyckoffFeb 4, 2025After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
