Lean hog futures experienced significant increases on Monday, ranging from 27 cents to $1.60. Open interest rose by 708 contracts, indicating a shift in ownership as 11,455 contracts rolled out of June. The CME Lean Hog Index stood at $90.79, a decrease of 23 cents from May 7.
The USDA reported a pork carcass cutout value of $96.98 per cwt, up 58 cents, although the loin, ham, and belly primals were priced lower. Monday’s federally inspected hog slaughter totaled 462,000 head, representing a decrease of 17,000 head from the previous Monday but an increase of 1,064 head from the same day last year.
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