Lean hog futures closed out Friday with losses of 50 cents to $1.65, as August was down $1.42 this week. USDA’s national base hog price was reported at $106.59 on Friday afternoon, dropping $5.74 from the day prior. The CME Lean Hog Index was up a dime at $107.14 on July 9. 

CFTC data showed the large managed money speculators in lean hog futures and options trimming 2,788 contracts from their net long position as of Tuesday. They took that net position to 131,799 contracts as of July 8.

Pork production out of the US was raised by 45 million lbs for the 2025 projection from the World Ag Outlook Board, to 28.041 billion lbs. That came via an increase to the last half of the year. Estimates for the 2026 production were up 110 million lbs to 24.48 billion lbs.

USDA’s FOB plant pork cutout value from the Friday PM report was back down 68 cents at $113.47. The butt primal was up $9.04, with the rib and loin also higher. The rest of the primals were down, led by the belly, $12.56 lower. This week’s estimated hog slaughter was 2.371 million head according to the USDA. That was well above last week  and 1,838 head above last year.

Jul 25 Hogs  closed at $106.725, down $0.525,

Aug 25 Hogs  closed at $104.675, down $1.550

Oct 25 Hogs  closed at $90.650, down $1.625,