Lean Hogs Mixed for Weekend
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 HEN21 - Lean Hogs

ean hog futures closed mixed after trading both directions on Friday. The summer delivery months were down triple digits, while May, October and December stayed higher with gains of at least 27 cents. USDA’s National Average Base Hog price for Friday was $113.70, after a $2.72 drop. The May 5th CME Lean Hog Index was $108.55, up by another 66 cents.  

Pork cutout futures closed mostly lower, as May was up 57 cents but the other nearbys were $0.47 to $1.25 in the red. USDA’s National Pork Carcass Cutout Value was 7 cents weaker in the PM report to $113.79. Most of the primal cuts were higher, though offset by a $5.21 reduction to ham value. USDA estimated the week’s FI hog slaughter through Saturday at 2.408m head. That’s down 46,000 head wk/wk. 

The CoT report showed little adjusting from lean hog specs through the week ending 5/4. With 550 fewer contracts open, managed money was reported 71,577 contracts net long. 

May 21 Hogs  closed at $111.975, up $0.575,

Jul 21 Hogs  closed at $113.550, down $1.100

May 21 Pork Cutout  closed at $114.550, up $0.575,

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