Lean Hogs (June)

June lean hog futures made new highs for the move yesterday but stalled right at our resistance pocket from 101.42-101.95 (the high was 101.42) reversed to finish the day moderately lower. Weekly export sales were disappointing which may be a headwind this morning, along with yesterday’s reversal against resistance. A breakout above resistance would neutrlaize a moderatly bearish bias at our desk.

Resistance: 101.42-101.95***
Pivot: 98.85-99.70
Support: 94.42-95.00***

Weekly Export Sales

Net sales of pork were reported at 5,800 MT for 2025–a marketing-year low–were down 72 percent from the previous week and 82 percent from the prior 4-week average. Increases primarily for Japan (6,300 MT, including decreases of 100 MT), Mexico (3,800 MT, including decreases of 200 MT), South Korea (1,800 MT, including decreases of 100 MT), Colombia (1,600 MT), and Canada (1,200 MT), were offset by reductions for China (12,000 MT) and Denmark (100 MT). Exports of 27,100 MT were down 12 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (10,200 MT), South Korea (4,700 MT), Japan (4,600 MT), Colombia (1,900 MT), and Canada (1,000 MT).

Seasonal Tendency Update
(updated 4.21.25)

Below is a look at historical price averages for June futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Commitment of Traders Report
Friday’s Commitment of Traders report showed Funds were net buyers of about 4k futures/options contracts. Their net long position stands at 40,222.

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