On Tuesday, June 26, lean hog futures decreased by 12 cents to $1.30, with the USDA’s national base hog price unreported due to low sales volume. The CME Lean Hog Index fell 19 cents to $90.88 as of May 21. Managed money reduced their net long positions by 7,147 contracts in the week ending May 19, leaving a total of 33,713 contracts.
USDA Cold Storage data revealed pork stocks at 435.79 million pounds at the end of April, a decrease of 4.47% year-over-year but an increase of 8.7% from March. The pork carcass cutout value rose by $3.39 to $99.65 per cwt, with federated inspected hog slaughter estimated at 2.321 million head last week, down 38,000 from the previous week and 35,490 from the same week last year.
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