Livestock analyst Jim Wyckoff studies on international pig information
7 February 2025
2 minute learn
After seeing sturdy promoting stress earlier this week, April lean hog futures bulls got here roaring again to life the latter half of this week. As soon as once more, the hog market bulls have proven eager resilience after a strong value unload. Technicals in hog futures have improved and hog merchants are rising extra assured of an prolonged money hog market rally. The newest CME lean hog index is up 52 cents to $84.60 as of Feb. 4, rising the rise from the seasonal low to $4.17. Bulls have additionally lately been inspired by decreased hog slaughter ranges that recommend USDA’s projected hog inhabitants will not be as huge because the company reported.
Newest USDA and different information relating to the worldwide pork trade
Weekly USDA US pork export gross sales
Pork: Web gross sales of fifty,700 MT for 2025 have been primarily for Mexico (21,000 MT, together with decreases of 600 MT), South Korea (7,200 MT, together with decreases of 1,700 MT), Japan (6,500 MT, together with decreases of 500 MT), the Bahamas (4,700 MT), and Colombia (3,600 MT, together with decreases of 200 MT). Exports of 37,800 MT have been primarily to Mexico (13,900 MT), Japan (5,500 MT), South Korea (4,000 MT), China (3,600 MT), and Canada (2,700 MT).
Export Changes: Amassed exports of pork have been adjusted down 6,487 MT to the Bahamas (4,690 MT), the Netherland Antilles (436 MT), the Dominican Republic (401 MT), Chile (289 MT), South Korea (236 MT), the U.S. Virgin Islands (118 MT), Haiti (92 MT), El Salvador (50 MT), Honduras (44 MT), Panama (37 MT), the Turks and Caicos Islands (29 MT), Guatemala (22 MT), Mexico (21 MT), Barbados (9 MT), Ecuador (8 MT), Nicaragua (3 MT), the United Arab Emirates (1 MT), and the Leeward Windward Islands (1 MT) for week ending January 23. These exports have been reported in error.
The subsequent week’s seemingly high-low value buying and selling ranges:
April lean hog futures–$88.00 to $95.00 and with a sideways-higher bias
March soybean meal futures–$300.00 to $321.60, and with a sideways-higher bias
March corn futures–$4.80 to $5.10 and a sideways-higher bias
Newest analytical every day charts lean hog, soybean meal and corn futures
