Lean hog futures rose $1.50 to $2.05 at midday on June 12, 2023, following a higher opening. The USDA reported a national average base hog price of $106.56, an increase of $2.51 from the previous day. The CME Lean Hog Index also rose by $1.06 to $102.81.
As of June 10, speculators increased their net long positions in lean hog futures and options by 16,592 contracts, bringing the total to 118,218 contracts. The USDA’s FOB plant pork cutout value rose 87 cents to $118.93, while federally inspected hog slaughter was estimated at 2.387 million head, up 32,000 from the previous week.
July 25 Hogs are currently trading at $111.525, up $2.050; August 25 Hogs at $111.875, up $1.750; and October 25 Hogs at $95.775, up $1.575.
