Lean hog futures posted losses of 62 cents to $1.67 at the Friday close, with June slipping 62 cents on the week. USDA’s national base hog price was reported at $92.64 on Friday morning, down 61 cents from the day prior. The CME Lean Hog Index was back up 10 cents on April 28 at $91.41.
CFTC data from Friday showed managed money slashing another 8,026 contracts from their net long in lean hog futures and options by Tuesday, taking the net long to 57,565 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up 83 cents at $97.59 per cwt. The picnic and belly primals were the only reported lower, led by the latter with a $4.06 loss. USDA estimated federally inspected hog slaughter at 2.446 million head. That is down 23,000 head from the previous week but 30,311 head above the same week last year.
May 26 Hogs closed at $92.825, down $0.625,
Jun 26 Hogs closed at $101.275, down $1.000
Jul 26 Hogs closed at $103.375, down $1.675,
