Lean hog futures closed on Friday at 67 cents, with June contracts down $2.67 for the week. The USDA reported a national base hog price of $90.28, up 12 cents from Thursday. The CME Lean Hog Index rose 6 cents to $90.66 on April 15.
Managed money decreased their net long positions in lean hog futures and options by 10,174 contracts as of April 14, bringing the total to 87,887 contracts. USDA’s pork carcass cutout value increased by $2.52 to $99.20 per cwt, with all primals reported higher. Federally inspected hog slaughter for the week was estimated at 2.502 million head, exceeding the previous week by 30,000 head and up 134,777 head year-over-year.
