**Lean Hog Futures Update – April 2023**
Lean hog futures experienced modest gains on Thursday, with contracts rising by 7 to 25 cents. The June contract rose by $4.70 last week, while the USDA reported the national average base hog negotiated price at $83.35 on Friday. The CME Lean Hog Index decreased by 28 cents to $85.09 as of April 15.
According to the Commitment of Traders data released Friday, speculators increased their net long position by 3,960 contracts to a total of 40,222 contracts. Additionally, the USDA’s Friday pork cutout report noted an increase of $4.22 to $97, with belly cuts surging by $14.44. The estimated federally inspected hog slaughter last week stood at 2.38 million head, down 104,000 from the previous week and 100,603 less than the same week last year.
Closing prices for May 25 Hogs were reported at $90.400 (up $0.250), June 25 Hogs at $98.025 (up $0.075), and July 25 Hogs at $98.100 (up $0.200).
