Domestic hog futures ended the Friday session with $0.25 to $0.82 gains. That left the June hog contract at $107.80 ahead of Tuesday’s last trade day. The July contract completed the week with a $5.25 loss from Friday to Friday. USDA’s National Average Base Hog price for Friday afternoon was $115.30, down by $2.69. The CME Lean Hog Index for 6/8 was $107.31 after a 17 cent dip.
CFTC data showed lean hog speculative traders were 22,473 contracts net long at the close of 6/7. That was a 3,982 contract stronger net long after net new buying through the week.
The June WASDE raised 2022 pork production by 180m lbs, via a boost to Q2, to 27.219 billion. Their outlook for 2023 output was maintained at 27.356b lbs, with 6.995b for Q1 specifically.
Pork cutout futures ended the last trade day of the week with $0.60 to $1.32 gains. USDA’s National Pork Carcass Cutout for Friday PM was $109.16 after firming up 7 cents. USDA estimates FI hog slaughter through Saturday as 2.372m head. That compares to 2.432m head during the same week last year, as YTD now trails last year’s pace by 4.5%.
Jun 22 Hogs closed at $107.800, up $0.825,
Jul 22 Hogs closed at $105.475, up $0.475
Jun 22 Pork Cutout closed at $108.725, up $0.700,
