Lean hog futures surged on Friday, with contracts rising between $1.25 to $2.07 as of midday. The USDA reported the national average base hog negotiated price at $100.55, reflecting a 93 cent increase. The CME Lean Hog Index also climbed by 82 cents to $96.57 as of June 3.
The USDA’s Thursday PM report indicated the FOB plant pork cutout value was $112.85, up $4.74, with all primals showing increases. Federally inspected hog slaughter for Thursday was estimated at 480,000 head, bringing the weekly total to 1.903 million head, which is a decrease of 4,000 head compared to the same week last year.
