Lean hog futures were rallying on Friday, with contracts up $1.77 to $2.35 at the close. July rose $2.17 this week. USDA’s national average base hog negotiated price was reported at $100.55 on Friday afternoon, down $1.30. The CME Lean Hog Index was up 82 cents on June 3, at $96.57.
CFTC data from Friday afternoon showed large managed money speculators in lean hog futures and options increasing their net long by 7,086 contracts to 101,626 contracts as of June 3rd.
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USDA’s FOB plant pork cutout value from the Friday PM report was $111.51, back up $3.39. All 6 primals were reported higher. That was a gain of $4.29 this week. Federally inspected hog slaughter for this week was estimated at 2.363 million head. That is down 52,772 head from the same week last year.
Jun 25 Hogs closed at $102.625, up $1.775,
Jul 25 Hogs closed at $107.100, up $2.300
Aug 25 Hogs closed at $109.400, up $2.350,
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