Lean hog futures have increased by $2 to $2.25 for front months, with February futures up 80 cents. As of January 29, the CME Lean Hog Index rose 6 cents to $85.78. On Tuesday, managed money increased their net long positions in lean hog futures by 16,388 contracts, bringing the total to 113,806 contracts.
The USDA reported a pork carcass cutout value of $96.65 per cwt, up $2.43, while federally inspected hog slaughter for the previous week was estimated at 2.522 million head—54,000 head higher than the prior week but 37,861 head lower than the same week last year. Prices for February, April, and May hogs are at $88.050, $97.200, and $101.175, respectively.
