Lean hog futures concluded the trading week with a mixed performance on Friday, as contracts registered gains and losses across the board. While some futures saw gains of up to 67 cents, others dipped by as much as 75 cents. A significant movement was observed in the June contract, which closed the week $2.65 lower.
Market Activity and Key Data Points
The USDA’s national base hog price reported on Friday afternoon stood at $93.77, marking a substantial increase of $3.07 from the previous day. In contrast, the CME Lean Hog Index experienced a slight decline, falling 17 cents to $91.02 as of May 6.
Recent Commitment of Traders data, as of Tuesday, indicated a reduction in the managed money net long position in lean hog futures and options. A total of 6,483 contracts were cut, bringing the net long position to 51,082 contracts.
Pork Carcass Value and Slaughter Data
The USDA’s pork carcass cutout value, as detailed in the Friday PM report, showed an increase of $1.96, reaching $97.56 per hundredweight. The picnic primal was the sole reported primal to experience a decrease in value.
Federally inspected hog slaughter for the week was estimated by the USDA at 2.446 million head. This figure represents an increase of 4,000 head compared to the preceding week and is 18,415 head above the same week in the prior year.
Contract Closings
Specific contract performances on Friday included:
- May ’26 Hogs closed at $90.875, down $0.625.
- Jun ’26 Hogs closed at $98.625, down $0.750.
- Jul ’26 Hogs closed at $103.200, up $0.250.
The mixed trading activity reflects a dynamic market influenced by various supply and demand factors, with traders closely watching USDA reports and positioning in futures contracts.
