Strong demand, tight supply push U.S. hog prices higher in 2026

U.S. pork processors paid higher prices for a higher number of hogs, while wholesalers saw year-over-year increased values for larger volumes of pork produced last month. USDA ERS Agricultural Economists Mildred Haley and Adriana Valcu-Lisman say heftier volumes sold at higher prices point to greater January pork demand compared to a year ago.

“After adjusting for one less slaughter day in January this year, estimated federally inspected pork production—at roughly 2.5 billion pounds—was 2.8% higher than a year ago,” the economists noted. “Higher January production was the product of more hogs slaughtered at heavier average dressed weights.”

According to the USDA Economic Research Service Livestock, Dairy, and Poultry Outlook for February 2026, prices of live equivalent national daily direct producer-sold hogs averaged $61.49 per cwt, a 1.6% increase from January 2025. Processors received, on average, $93.63 per cwt for the pork carcass from wholesalers, 2.8% more than a year ago.

“This year, ribs, loins and hams contributed to the strength of the carcass cutout’s value, while belly prices were lower than the previous year and were a source of weakness in January, detracting from the carcass value compared to 2025,” Haley and Valcu-Lisman explain.