At the closing bell for Friday, lean hog futures were 2 cents lower in April, but 10 to 70 cents higher in the other front months. For the week, the June contract was $5.88 weaker from Friday to Friday. The National Average Base Hog price for Friday was $2.57 weaker to $97.73. CME’s 4/6 Lean Hog Index was 40 cents weaker to $100.68.
The weekly CoT report showed lean hog spec traders were 11,382 contracts less net long through the week that ended 4/5. That came mainly via long liquidation and left the group 57,749 contracts net long.Â
USDA’s April WASDE data showed a net 240m lb decrease to 2022 pork output, now figured at 27.075b lbs. That comes mainly via a 130m lb lighter Q3, though Q2 and Q4 were also trimmed from March’s report.Â
Pork cutout futures ended the day mixed within 32 cents of UNCH. USDA’s National Pork Carcass Cutout Value was quoted as $103.16 cwt. after a nickel boost. Bellies were quoted $12.30 higher to $180.64. Federally inspected hog slaughter for the week through Saturday was estimated at 2.43m head. That is down 4k from last week and 24k from the same week last year. The YTD slaughter was 34.4m head, compared to last year’s 36.7m head pace. Â
Apr 22 Hogs  closed at $99.025, down $0.025,
May 22 Hogs  closed at $108.425, up $0.100
Apr 22 Pork Cutout  closed at $105.250, up $0.100,
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