Livestock analyst Jim Wyckoff stories on world pig information
26 September 2025
4 minute learn
The lean hog futures market Wednesday noticed routine profit-taking after costs hit a contract a excessive Tuesday. The hog futures bulls stay technically robust amid a worth uptrend in place on the day by day bar chart. Which means the trail of least resistance for costs stays sideways to larger. The most recent CME lean hog index is up 10 cents at $105.00. Wednesday’s nationwide direct 5-day rolling common money hog worth quote was $105.47. Hog futures merchants are awaiting this afternoon’s USDA quarterly Hogs and Pigs Report.
Newest USDA and different information concerning the worldwide pork business
Weekly USDA US pork export gross sales
Pork: Web US gross sales of 29,400 MT for 2025 have been up 34 p.c from the earlier week and 12 p.c from the prior 4-week common. Will increase primarily for Mexico (10,000 MT, together with decreases of 500 MT), South Korea (4,900 MT, together with decreases of 300 MT), Japan (3,800 MT, together with decreases of 200 MT), the Dominican Republic (2,600 MT), and Colombia (2,000 MT, together with decreases of 200 MT), have been offset by reductions for Panama (100 MT). Whole internet gross sales of 200 MT for 2026 have been for South Korea. Exports of 29,300 MT have been unchanged from the earlier week, however up 12 p.c from the prior 4-week common. The locations have been primarily to Mexico (13,100 MT), Japan (3,600 MT), China (2,800 MT), South Korea (2,400 MT), and Colombia (1,900 MT).
California’s Prop 12 challenged by Triumph Meals
Triumph Meals has filed a brand new lawsuit difficult California’s Proposition 12, which restricts the sale of pork and eggs from animals not housed underneath requirements set by activist-backed measures. The pork processor contends that Prop 12 unlawfully overrides federal oversight, noting USDA already regulates inspection and compliance at meat and poultry vegetation.
“Congress has already acted and regulates pork manufacturing in our nation,” mentioned Triumph CEO Matt England, warning towards a “patchwork of interfering state necessities.”
The case builds on Triumph’s earlier success in weakening Massachusetts’ Query 3 regulation underneath the Dormant Commerce Clause and expands Prop 12 challenges past pork to eggs, a problem beforehand raised by the U.S. Division of Justice.
The Supreme Courtroom has to this point declined to listen to different Prop 12 challenges, together with these introduced by the Iowa Pork Producers Affiliation and the Nationwide Pork Producers Council. Triumph factors to previous precedent, such because the 2011 Nationwide Meat Affiliation v. Harris ruling, which affirmed that Congress—not particular person states—holds authority over nationwide meals provide regulation.
In the meantime, the Nationwide Pork Producers Council (NPPC) has submitted feedback to the Justice Division in response to a request from DOJ’s Workplace of Authorized Coverage for info that may assist determine state legal guidelines which have out-of-state financial impacts. “NPPC singled out California Proposition 12 and Massachusetts Query 3, each of which ban within the state the sale of pork from hogs born to sows raised in housing that doesn’t meet their arbitrary requirements,” the group mentioned in a information launch.
“San Francisco’s 2017 Antibiotic Use in Meals Animals Ordinance, for instance, requires bigger grocery retailers within the metropolis to report detailed details about using antibiotics in meat and poultry merchandise,” NPPC added. “It imposes vital reporting mandates on retailers that inevitably shift duty to producers, most of whom haven’t any connection to San Francisco. In Chicago, to make sure that ‘institutional meals buying advances an equitable, wholesome, truthful, native, humane, and sustainable meals system,’ pork was eradicated from the town college system’s menu.”
ADM shifts US feed mills into three way partnership with Alltech
Archer Daniels Midland (ADM) is transferring its 11 U.S. feed mills into a brand new three way partnership with Alltech, the agricultural merchandise developer. Alltech will contribute 18 U.S. mills and 15 Canadian mills to the partnership, turning into the bulk proprietor. Governance shall be shared, with equal illustration on a board of administrators overseeing the enterprise.
The deal doesn’t embody ADM’s feed operations in Mexico or different areas, and the corporate will retain its U.S. premix and components companies. ADM emphasised the transfer as a part of a broader effort to trim $500 million to $700 million in prices over 5 years.
Timeline: The businesses count on the transaction to shut and the brand new partnership to launch within the first quarter of 2026.
The following week’s probably high-low worth buying and selling ranges:
October lean hog futures–$97.00 to $102.00 and with a sideways bias
December soybean meal futures–$270.00 to $285.00, and with a sideways bias
December corn futures–$4.18 1/4 to $4.35 and a sideways-higher bias
Newest analytical day by day charts lean hog, soybean meal and corn futures
