Lean hog futures are mixed at midday on Friday, with June futures up $0.10, while other contracts are down by as much as $0.75. The USDA reported a national base hog price of $93.57 and a CME Lean Hog Index of $91.07, up $0.45 as of May 20. The CME will be closed on Memorial Day, with regular trading resuming on Tuesday.
The USDA’s pork carcass cutout value was $96.64 per cwt, a $1 increase from the previous report. Federally inspected hog slaughter for Thursday was estimated at 478,000 head, bringing the week-to-date total to 1.899 million, which is an increase of 8,000 head from the previous week but 25,344 head lower than the same week last year.
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