Lean hog futures are posting mixed trade on Friday, with July up 62 cents and other contracts down 15 to 55 cents. USDA’s national base hog price was $107.85 in the Friday AM report, down 24 cents from the previous day. The CME Lean Hog Index was up 48 cents at $111.89 on June 25.

The quarterly Hogs & Pigs report from NASS showed a 0.33% increase in all hog inventory at the beginning of June to 75.137 million head. That was above the analysts’ estimates calling for a 0.4% drop from a year ago. Market hogs were up 0.4%, with hogs kept for breeding down 0.48%.  March to May farrowings were down 0.45% at 2.907 million head, with June to August intentions at 2.974 million, a 0.37% drop from last year. The March-May pig crop was 1.27% larger yr/yr to 34.171 million head.

USDA’s Thursday morning FOB plant pork cutout value was back up $4.21 at $123.86. The picnic was the only primal reported lower. Federally inspected hog slaughter for Thursday was estimated at 473,000 head by USDA, with the weekly total at 1.887 million head. That is down 2,000 head from last week but 3,452 head below the same week last year. 

Jul 25 Hogs  are at $112.950, up $0.625,

Aug 25 Hogs  are at $110.100, down $0.150

Oct 25 Hogs  is at $94.325, down $0.550,