# Pig outlook: Lean hog futures starting to trend down
						 | The Pig Site

> Lean hog futures began trending lower the week of 13 November after falling pork prices in China raised doubts about the durability of its US pork purchases. USDA cut its 2020 US pork export forecast and raised its production outlook, lowering its cash hog price projection. COVID-19 outbreaks at US meat plants were also noted.

- Date: 2020-11-13 · published 2020-11-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A lower USDA export forecast and higher production outlook point to ample US pork supply and weaker hog prices, while uncertainty over China's demand weighs on the outlook.

## Read by commodity

- SBM: neutral
- CORN: neutral
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-11-11 | [CME update: lean hog futures weaken as corn prices surge
						 \| The Pig Site](https://feedsoft.ai/events/50300-cme-update-lean-hog-futures-weaken-as-corn-prices-surge-the-pig-site.md) | -0.6% | -3.0% |
| HOGS | 2022-09-12 | [CME lean hog futures weaken, USDA lowers 2022 price outlook](https://feedsoft.ai/events/39741-cme-lean-hog-futures-weaken-usda-lowers-2022-price-outlook.md) | +1.7% | -2.8% |
| HOGS | 2019-06-28 | [US lean hogs rally and USDA expand herd
						 \| The Pig Site](https://feedsoft.ai/events/58741-us-lean-hogs-rally-and-usda-expand-herd-the-pig-site.md) | -3.1% | +10.4% |
| HOGS | 2020-06-29 | [CME update: hog futures dive on economic concerns and larger-than-anticipated supply
						 \| The Pig Site](https://feedsoft.ai/events/52768-cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated.md) | -0.0% | +13.0% |
| HOGS | 2024-07-29 | [McKean Swine Disease Conference: US pork market outlook
						 \| The Pig Site](https://feedsoft.ai/events/29430-mckean-swine-disease-conference-us-pork-market-outlook-the-pig-site.md) | +0.0% | -9.8% |
| SBM | 2022-12-30 | [Pig outlook: Lean hog futures bulls take technical control
						 \| The Pig Site](https://feedsoft.ai/events/38235-pig-outlook-lean-hog-futures-bulls-take-technical-control-the-pig-site.md) | +5.9% | +3.5% |
| SBM | 2025-10-21 | [U.S. Pork Supply Outlook: Hog Slaughter, Weights and Price Trends Heading Into the Holidays - Pork Checkoff](https://feedsoft.ai/events/8804-u-s-pork-supply-outlook-hog-slaughter-weights-and-price-trends-heading-into-the.md) | +6.6% | +16.2% |
| SBM | 2026-09-14 | [USDA Lifts Soybean Output Outlook, Weighing on Friday Prices](https://feedsoft.ai/events/10675-usda-lifts-soybean-output-outlook-weighing-on-friday-prices.md) | +1.8% | +5.5% |

## Sources

- thepigsite.com: https://www.thepigsite.com/articles/pig-outlook-lean-hog-futures-starting-to-trend-down

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.