Hogs Close Mixed into the Long Weekend

Lean hog futures closed mixed on Friday, with contracts ranging from 62 cents higher to 72 cents lower, while June finished the week down $3. USDA’s national base hog price slipped to $93.23 in the Friday PM report, down 35 cents day over day, though the CME Lean Hog Index rose 45 cents. The tone is mildly negative overall given the weekly price decline and softer cash hog price, offset by a firmer index.

Analysis

Lean hog futures closed mixed on Friday, with contracts ranging from 62 cents higher to 72 cents lower, while June finished the week down $3. USDA’s national base hog price slipped to $93.23 in the Friday PM report, down 35 cents day over day, though the CME Lean Hog Index rose 45 cents. The tone is mildly negative overall given the weekly price decline and softer cash hog price, offset by a firmer index.