World: Pig outlook, lean hog futures bulls lose some steam

Lean hog futures prices have backed down from the recent contract high and the bulls are fading just a bit, to begin to suggest a market top is in place. The latest CME lean hog index is up 29 cents to $83.61 as of Dec. 10. Traders will keep a close eye on the cash market to see if this is a short-term pause or a seasonal bottom. The last couple of years it has been common for seasonal weakness to persist into the new year, rather than making a low around Christmas. Pork: Net sales of 22,500 MT for 2024 were down 36 percent from the previous week and 1 percent from the prior 4-week average. Increases primarily for Mexico (9,100 MT, including decreases of 300 MT), Japan (4,500 MT, including decreases of 500 MT), China (2,700 MT, including decreases of 100 MT), Colombia (2,000 MT, including decreases of 100 MT), and South Korea (1,000 MT, including decreases of 600 MT), were offset by reductions for Australia (300 MT). Net sales of 4,600 MT for 2025 primarily for South Korea (2,400 ...