Hogs Pulled Back Into Weekend, Pork and Cash Values Still Rising

Lean hog futures went into the weekend on another triple digit gain. April closed $1.82 higher on Friday, having set another new contract high, and closed the week $7.17 higher. The National Average Base hog price was $86.78 on Friday afternoon. The CME Lean Hog Index from 2/16 was $0.90 stronger to $94.24. 

Weekly Commitment of Traders data showed lean hog spec traders were 79,242 contracts net long – the most since the week that ended September 7th. 

Pork cutout also rallied triple digits on Friday, going home $0.82 to $2.37 higher. USDA’s National Pork Carcass Cutout Value fell back by $6.63 in the PM report to $109.91 cwt. The hams dropped the most, with a $17.38 drop. USDA estimated weekly federally inspected hog slaughter at 2.507 million head through Saturday. That is 9,000 head below last week and 94k head above the same week last year. 

Apr 22 Hogs  closed at $109.400, up $1.825,

May 22 Hogs  closed at $113.350, up $2.025

Apr 22 Pork Cutout  closed at $116.025, up $2.375,