Lean Hog Futures Rise Despite Drop in Cash Prices

Lean hog futures saw gains on Friday, with contracts increasing between $1.17 and $2.10. The USDA reported the national average base hog negotiated price at $96.03, down $3.24 from the previous day. On May 28, the CME Lean Hog Index rose by 61 cents to $94.13.

Pork export sales reached 30,490 metric tons for the week ending May 22, a decrease from the prior week. However, shipments hit a six-week high at 28,893 metric tons.

The USDA’s Friday morning FOB plant pork cutout value was $109.40, climbing $4.78, with the ham primal being the only cut reported lower. Thursday’s federally inspected hog slaughter was estimated at 480,000 head, bringing the weekly total to 1.439 million head, which is down by 2,311 head from the same holiday week last year.

Jun 25 Hogs: $101.200, up $1.175
Jul 25 Hogs: $105.075, up $2.100
Aug 25 Hogs: $104.975, up $1.575

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