Lean hog futures posted gains on Friday, rising $1.00 to $1.37, with nearby contracts posting mixed moves ranging from a $0.02 decline to a $0.22 increase. The July contract slipped $2.10 over the week, while the USDA’s national base hog price settled at $93.44 per head on Friday afternoon, down $1.85 from the previous day. The CME Lean Hog Index edged down 7 cents to $91.78 as of June 24.
According to the USDA Hogs and Pigs report, total inventory on June 1 fell 0.04% year‑over‑year to 73.664 million head. Breeding stock decreased 1.16% to 5.88 million head, while market hogs edged up 0.05% to 67.784 million head, slightly above analyst expectations. The March‑May pig crop rose 0.2% to 33.521 million head, though farrowings declined 1.02% during the period. Intentions for June‑August farrowings are projected at 2.9 million head, a 2.19% drop from the prior year.
COT data released June 24 indicated that managed money held a net short position of 25,560 contracts in lean hog futures and options, reflecting an increase of 4,601 contracts.
The USDA’s pork carcass cutout value rose 15 cents to $95.37 in the Friday afternoon report, with hams and belly cuts among the few primals to post declines. Federally inspected hog slaughter for the week was estimated at 2.371 million head, steady versus the prior week and 18,368 head higher than the same week last year.
July 26 hogs settled at $92.925 per hundredweight, up $0.225.
August 26 hogs settled at $96.575 per hundredweight, down $0.025.
October 26 hogs settled at $81.950 per hundredweight, up $1.000.
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