What Do Hogs Cost Now? Prices Rally to Multi-Month Highs

If you’re wondering what hogs cost in today’s market, recent trading data shows a clear upward trajectory. Lean hog futures are delivering solid performance across their front-month contracts, with gains of 0.01 to $0.55 throughout the trading session this week. This rally reflects underlying strength in the pork commodity market, supported by consistent buying interest and favorable supply-demand dynamics.

Lean Hog Futures Post Strong Gains Across Contracts

The strength in hog pricing is evident across all major contract months. As of late January, the CME Lean Hog Index climbed to $84.01, up $0.39, signaling robust market sentiment. Looking at specific futures contracts: February 2026 hogs are trading near $88.85, April contracts sit around $96.75, and May contracts have reached approximately $100.28. These price levels demonstrate how much hogs now cost at various delivery periods, with each successive contract reflecting expectations for continued pricing support. The consistent gain structure—particularly the $0.55 jump in near-term contracts—suggests market participants are anticipating sustained strength.

USDA Market Data Shows Broad-Based Price Support

The fundamentals underlying these price gains are compelling. USDA’s pork carcass cutout value expanded to $97.88 per cwt, representing a $0.62 daily increase. Most primal cuts posted advances, with only the loin primal showing weakness—a dynamic that indicates broad-based strength despite isolated softness. USDA’s national base hog price data was unavailable due to light trading volume, but the momentum captured in the cutout value tells the story of upward pricing pressure across most of the product mix.

Slaughter Numbers Support Market Momentum

Supply-side indicators reinforce the bullish picture for hog prices. USDA’s preliminary count for Monday showed 426,000 head of federally inspected hog slaughter—5,000 head above the previous week’s pace, yet 5,345 head below year-ago levels. This year-over-year decline in slaughter numbers reflects tighter supply conditions, which naturally supports higher pricing. The weekly comparison shows production levels remain slightly elevated, but the softer year-ago comparison emphasizes how supply constraints are helping maintain the current rally in hog costs.