December lean hog futures have hit a contract high but face selling pressure, indicating a potential market peak. The CME lean hog index has risen for 14 days due to strong cash market performance amid expected lower US pork production in Q4, though seasonal weakness is anticipated. US pork sales for 2024 are low, with reduced sales to Mexico and China. An Oregon farm detected H5N1 in pigs, prompting USDA to expand bird flu surveillance, highlighting cross-species transmission risks. Meanwhile, soybean meal and corn futures show a slight upward trend, with soybean meal expected to range between $293.10 and $310.00 and corn between $4.10 and $4.34 1/4, both with a sideways to higher bias.