USDA National Daily Direct Morning Hog Report 11/25 10:45
11/25/2025 | 10:45 am CST USDA National Daily Direct Morning Hog Report 11/25 10:45
LSDLM_HG216
Des Moines, IA Tue, Nov 25, 2025
DAILY DIRECT MORNING HOG REPORT
Current Volume by Purchase Type
Barrows and Gilts Live and Carcass Basis
Estimated Actual Actual Actual
Today Today Week Ago Year Ago
Producer Sold
Negotiated 2,445 1,945 4,479 1,598
Other Market Formula 14,899 14,888 12,492 18,785
Swine/Pork Market Formula 95,592 81,256 90,446 87,113
Other Purchase Arrangement 55,795 49,161 56,233 50,493
Negotiated Formula 327 327 655 290
Pack. Sold (all purchase types) 22,575 22,575 27,766 29,802
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Volume and Price Range For Barrows and Gilts
Purchased Swine (Including Packer Sold)
National Iowa/ Western Eastern
Minnesota Cornbelt Cornbelt
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Negotiated (carcass basis)
Head Count 365
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Negotiated Formula (carcass basis)
Head Count 165
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Combined Negotiated/Negotiated Formula (carcass basis)
Head Count 530
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Other Market Formula (carcass basis)
Head Count 15,354 8,164 12,728 2,626
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Swine/Pork Market Formula (carcass basis)
Head Count 93,688 53,391 61,517 28,065
Lowest Base Price 71.70 71.70 71.70 72.14
Highest Base Price 87.46 86.51 86.56 87.46
Weighted Average Price 81.95 81.09 81.12 83.15
Change from Previous Day
Other Purchase Arrangement (carcass basis)
Head Count 48,460 28,339 30,599 16,576
Lowest Base Price 71.39 71.39 71.39 74.51
Highest Base Price 98.34 88.63 88.63 98.34
Weighted Average Price 83.56 82.04 82.22 85.89
Change from Previous Day
Negotiated (live basis)
Head Count 1,580
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Negotiated Formula (live basis)
Head Count 162
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
Combined Negotiated/Negotiated Formula (live basis)
Head Count 1,742
Lowest Base Price
Highest Base Price
Weighted Average Price
Change from Previous Day
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DAILY DIRECT MORNING HOG REPORT (PDF) (LSDLM_HG216) DAILY
DIRECT NEGOTIATED HOG PURCHASE MATRIX
REPRESENTING INDIVIDUAL PACKER CARCASS MERIT BUYING PROGRAMS
based on both Fat and Muscle Measurements for a 200 lb Carcass Basis
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CARCASS WEIGHT DIFFERENTIALS
145# 175# 205#
155# 185# 215#
165# 195# 225#
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MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED
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BARROWS & GILTS PURCHASE BY STATE OF ORIGIN
Canada 4,808 Iowa 59,102
Illinois 16,361 Indiana 4,356
Kansas 1,027 Kentucky 602
Maryland 157 Michigan 7,136
Minnesota 32,420 Missouri 3,365
North Carolina 7,827 North Dakota 167
Nebraska 9,481 Ohio 13,037
Oklahoma 1,859 Pennsylvania 4,282
South Dakota 3,503 Wisconsin 662
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