July hogs closed 40 lower on the session Friday but were able to gain 135 points for the week. The market traded as much as 70 lower early in Friday's session, due in large part to weakness in outside markets from a stronger US dollar and weakness in energy and metal markets. However, futures pushed higher on the day as the stock market recovered. Cash bellies closed the week at $107.19 from $96.73 the previous week, and this has helped boost the cut-out. Slaughter came in lower than expected at just 387,000 head Friday and 7,000 head for Saturday. This brought the total for last week to 2.004 million head, up from 1.827 million head the previous week and up from 2.000 million head a year ago. Pork cutout values released after the close Friday came in at $84.80, up 94 cents from Thursday and up from $82.39 the previous week, which is the highest pork value since March 7th. Monthly pork exports for April were reported at 450.6 million pounds, which was down from the previous month but up 6.9% from last year. Exports represented 24.47% of April production. The CME Lean Hog Index as of June 6th came in at 87.94, up 1.25 cents from the previous session and up from 84.05 the week before. Packer profit margins are still in the red, which could be an issue if pork prices slip.