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Rabobank's October Global Pork Quarterly Q4 2026 report says weakening global pork demand and falling prices could push the industry to reconsider 2027 production plans. US pork cutout values ran 25% below year-ago levels, with belly prices down 39% to their lowest seasonal levels since 2017 and ham prices down 19%.
Rabobank cited reduced foodservice demand, limited retail promotions and inflation pressures on consumers, and US pork exports fell 6.7% in August year over year.
Lower pork cutout values and weaker export demand reduce packer margins and hog values, which weighs on lean hog prices and reduces demand for pork-side inputs in the feed chain.
meatingplace.comChris MooreNov 2, 2026After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
