Lean hog futures reach new highs due to a resilient hog market; US corn and soybean industries benefit from beef and pork exports.

Lean hog futures reach new highs due to a resilient hog market, while beef and pork exports contribute significantly to the US corn and soybean industries, with an estimated 14.6% and 13.9% impact respectively. The USDA predicts a slight increase in Canadian live pig exports in 2024, as the Canadian swine herd continues to shrink due to the decline in the number of farms and producers.