Lean hog futures closed $1 to $1.37 higher on Friday, with the October contract up $1.000 to $81.950, following the USDA's Hogs and Pigs report. The report showed June 1 hog inventory at 73.664 million head, down 0.04% from last year, with breeding stock down 1.16% and market hog inventory up just 0.05%, well below trade estimates of a 1.1% increase. Farrowing intentions for June through August are seen at 2.9 million head, down 2.19% from last year. The national base hog price was $93.44, down $1.85 from the prior day, while the pork carcass cutout value rose 15 cents to $95.37. Managed money increased its net short position in lean hog futures and options by 4,601 contracts to 25,560 as of June 23.