On Friday, lean hog futures rose between 25 and 82 cents for most contracts, with June futures increasing by 25 cents. However, July futures declined by $1.35 during the week. As of Friday afternoon, the USDA reported the national base hog price at $95.27, down $1.99 from the previous day, and the CME Lean Hog Index was at $92.90, a decrease of 2 cents.
The Commitment of Traders report revealed an addition of 7,150 contracts to the managed money net short in lean hogs for the week ending June 9, totaling 13,701 contracts net short as of Tuesday. USDA’s pork carcass cutout value increased by $2.92 to $97.39 per cwt, with this week’s federally inspected hog slaughter estimated at 2.402 million head, down 20,000 from last week but up 31,146 head from the same week last year.
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