Lean hog futures ended the week mixed, with prices ranging from a decrease of 75 cents to an increase of 67 cents. The June contract saw a decline of $2.65 this week. As of Friday, USDA reported the national base hog price at $93.77, an increase of $3.07 from the previous day, while the CME Lean Hog Index fell by 17 cents to $91.02.
Commitment of Traders data revealed a reduction of 6,483 contracts from the managed money net long position in lean hog futures and options, bringing the total net long to 51,082 contracts. USDA’s Friday PM pork carcass cutout value increased by $1.96 to $97.56 per cwt, with estimated federally inspected hog slaughter at 2.446 million head for the week—up 4,000 from the previous week and 18,415 higher than the same week last year.
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