Hogs Gain Momentum as Futures Edge Higher on Friday

Lean hog futures edged up a tick to $1.10 in the front months on Friday. USDA’s national base hog price was not released Friday morning. The CME Lean Hog Index fell 7 cents on June 24 to $91.78.

USDA’s Hogs and Pigs report indicated that June 1 hog inventory fell 0.04% from a year earlier to 73.664 million head. Breeding hogs declined 1.16% to 5.88 million head, while market hogs rose 0.05% to 67.784 million head, slightly above trade expectations of 1.1%. The March‑May pig crop increased 0.2% to 33.521 million head, with farrowings down 1.02% and June‑August farrowing intentions projected at 2.9 million head, 2.19% lower than last year.

Cold Storage data showed pork stocks at 451.92 million pounds as of May 31, edging up 0.2% from month‑end April and 0.26% year‑over‑year.

USDA’s pork carcass cutout value rose $2.60 in the Friday morning report to $97.82, with ham the only primal posting a decline. Federally inspected hog slaughter on Thursday was estimated at 479,000 head, pushing the weekly total to 1.887 million head — up 11,000 from the prior week and 13,375 above the same week last year.

July 26 hogs traded at $92.90, up $0.20; August 26 hogs at $96.625, up $0.025; October 26 hogs at $82.050, up $1.10.

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