Lean hog futures traded mostly lower on Friday as the market consolidated gains for most of the week. The nearby February contract traded 57 cents lower on Friday to $85.30 per cwt. Weak cash hog and pork prices have subdued front-month futures. Meanwhile, summer lean hog contracts continued to post fresh contract highs, with June futures topping $104.77 per cwt.

The April contract is taking over as the most active as index funds rebalance their portfolios for the year. The contract has also been more firm compared to the spot February contract

Packers were less aggressive in their procurement efforts this week, indicating a healthy supply of market-ready hogs for the short term. The CME Lean Hog Index fell to $80.98 this week, the lowest in a year.

Wholesale pork prices behaved similarly for most of this week, with prices falling to $90.79 on Thursday. Friday’s trade brought sharply higher prices, with the cutout rising to $95.73 by midday. Prices tend to rise seasonally beginning in January as the market focuses on upcoming meat demand for the year.

U.S. pork exports totaled 265,000 metric tons (MT) in October, according to the U.S. Census Bureau on Thursday. Volumes were up 5.2 percent year-over-year. However, year-to-date exports remain 2.4 percent lower than 2024.

Mexico accounted for about half of the shipments in October, with China as the No. 2 destination. The two countries also lead for pork exports for the calendar year.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.