Lean hogs posted gains of as little as 60 cents in the deferred contracts to $2.27 in the nearbys. USDA’s National Average Base Hog negotiated price was down $1.29 in the Friday afternoon report at $88.49. The CME Lean Hog Index was another dime higher at $91.46 on April 17. 

China’s ministry of ag reported the country’s sow herd at 39.92 million head on March 31, a drop of 7.3% from last year. The overall hog herd inventory was 408.5 million head, down 5.2% from last year.

CFTC data showed lean hog spec funds cutting 6,086 contracts from their large net long in hogs as of Tuesday to 86,645 contracts. 

USDA’s National Pork Carcass Cutout Value was up 13 in the Friday PM report, at $100.09. The picnic and belly primals were the only reported lower. USDA estimated this week’s federally inspected hog slaughter at 2.487 million head through Saturday. That is 2,000 head above last week and a 34,388 head increase from the same week last year. Pork production on the week was up 0.3% from last week at 536 million lbs.

May 24 Hogs  closed at $96.225, up $1.500,

Jun 24 Hogs  closed at $104.825, up $2.125

Jul 24 Hogs  closed at $106.475, up $2.125,