Lean hog futures fell back 65 cents to $2.22 on the Friday session, with Feb slipping down $1.425 on the week. The national average base hog negotiated price was reported at $78.50 on Friday afternoon, down $1.74 from the day prior. The CME Lean Hog Index was reported at $81.19 on January 15, up 9 cents from the previous day.
On Monday, President Trump signaled a less aggressive approach to tariffs and has delayed implementation to review current trade agreements and policies with China, Canada, and Mexico. He did throw out a February 1 start date for potential 25% tariffs on Mexico and Canada.
Commitment of Traders data showed specs adding 6,408 contracts back to their net long position as of January 14 to a net position of 103,598 contracts.
USDA’s FOB plant pork cutout value was 21 cents higher in the Friday PM report at $90.60 per cwt. The loin, hams and butt were the primals reported lower, with the rest $1.64 to $2.43 higher. Federally inspected hog slaughter for last week was at 2.627 million head. That is 96,000 head larger than last week and 9,932 head above the same week last year.
Feb 25 Hogs closed at $81.125, down $1.175,
Apr 25 Hogs closed at $88.325, down $2.225
May 25 Hogs closed at $93.100, down $2.200,
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