All pork pricing trends are based on USDA data as of September 4, 2026.
The USDA reported a weekly hog harvest of 2.315 MM hogs last week. This level is roughly 2.6% lower than the prior week. Running harvest level year-to-date is down 0.7% compared to last year. Historically, harvest levels are beginning to recover from the cyclical lows in July and August.
Loins 
The loin complex diverged, as boneless loins pivoted higher while bone-in loins continued to decrease. Seasonal demand is fair, although the market has struggled to gain any consistent traction, and supply remains adequate, according to analysts. Historically, the loin markets weaken marginally in September, with the declines accelerating in October.
Tenders 
The pork tenderloin market pivoted higher. The USDA continues to report variable promotion in the retail channel, with last week's presence showing a heavy decrease compared to both the prior week and a year ago. Historically, the tenderloin market weakens for the balance of the year beginning in September.
Butts
The bone-in butt market remained unchanged. Supply has been adequate while demand has been declining seasonally, although Labor Day needs provided some support over the past few weeks, according to analysts. Historically, the pork butt market has held relatively rangebound through September, then trends weaker during October.
Ribs
The rib markets were mixed, as backribs and whole spareribs increased while St. Louis-spareribs decreased. Although seasonal demand is on the decline, Labor Day needs provided some short-term support, according to analysts. Historically, the sparerib markets have found better stability and support for the balance of the year, while backribs have shown more propensity for continued, gradual depreciation.
Bellies/Bacon 
The belly markets yielded to further seasonal correction, as demand is beginning to weaken seasonally. Historically, the belly markets trend lower throughout Q4.
Hams
Light hams pivoted higher, while heavy hams held steady. This shift follows a sharp, seasonal correction throughout the month of August. Supply remains good on a seasonal basis, with stronger year-over-year inventories being reported in cold storage. Historically, the market stabilizes and holds steady through September.
Trimmings
Both the 42% fat and 72% lean trimmings markets continued to decline. Demand has been fair but is slowing on a seasonal basis. Historically, the trimmings markets are a few weeks beyond their summer peaks and are in early transition to weaker markets through Q4.
Picnics
The picnic complex diverged, as bone-in picnics pivoted higher while boneless picnics continued lower. The bone-in picnic market has been in a counter-seasonal decline since early June, resulting in lower prices than would usually be seen at this time of year. Historically, the bone-in picnic market ebbs and flows higher throughout the calendar year, peaking near late December. The boneless picnics are heavily used by Further Processors, similar to trimmings, and are likely beginning to see seasonal erosion. Historically, the boneless picnic market trends lower in Q4.