**Lean Hog Futures Decline Amid Disease Detection**
On Friday, lean hog futures fell between 62 cents and $1.67, with June contracts closing at $92.825, down 62 cents for the week. The USDA reported the national base hog price at $92.64, down 61 cents from the previous day. This marks a significant period of volatility, with managed money reducing their net long positions in lean hog futures by 8,026 contracts, bringing the total to 57,565.
In a concerning development, the USDA’s APHIS confirmed cases of pseudorabies in a commercial hog herd in Iowa on Thursday, marking the first detection since 2004. Additionally, USDA estimated the federally inspected hog slaughter at 2.446 million head, a decrease of 23,000 from the prior week but up 30,311 from the same week last year. The pork carcass cutout value increased 83 cents to $97.59 per cwt.
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