Lean hog futures bulls have finally found some footing after a weaker start to the Friday session. Prices are up 70 cents to $2 at midday, ignoring the 47 cent loss for expiring June. The CME Lean Hog Index was up 20 cents at $91.58 on June 12. USDA showed the National Base Hog weighted average price at $88.30 on Friday morning, up $1.34 from the previous day.
USDA’s Pork Cutout Value was reported higher in the Friday AM print, up $3.92 to $100.94. The picnic primal was the only reported lower, with the belly up $10.10. USDA estimated Thursday FI hog slaughter at 475,000 head, bringing the week to date total to 1.890 million head. That is down 26,000 head from a week ago but up more than 40 thousand from a year ago.
Jun 24 Hogs are at $91.275, down $0.475,
Jul 24 Hogs are at $93.475, up $0.700
Aug 24 Hogs is at $90.325, up $1.725,
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