Lean hog futures experienced losses of 15 to 90 cents on Friday, with April futures falling $2.17 for the week. The USDA reported the national base hog price at $91.82, a 43-cent increase from the previous day, while the CME Lean Hog Index rose 24 cents to $91.44. Managed money increased its net long position in lean hog futures and options by 3,668 contracts to reach 127,704 contracts as of March 10.
The USDA’s pork carcass cutout value decreased by 10 cents to $100.19 per hundredweight, primarily driven by lower values in the rib and belly primals. The estimated weekly federally inspected hog slaughter was reported at 2.532 million head, surpassing last week’s figures by 44,000 head and exceeding the same week last year by 31,000 head.
April 26 hogs closed at $93.450, down $0.900, May 26 hogs closed at $98.400, down $0.750, and June 26 hogs closed at $107.375, down $0.800.
