Lean hogs futures also gained Friday, getting a lift from the market's discount to cash prices.

CME lean hogs for June settled up 1.12 cents, or 1.3%, at 88.92 cents per pound. July settled up 1.32 cents, or 1.5%, at 88.6 cents per pound.

Prices were mixed for much of the day, with deferred contracts slumping until late.

"The gains are huge in light of the sharp drop in the pork cutout value that normally would have prompted a triple-digit selloff," Brian Brase of ADM Investor Services said in a commentary, referring to declines on Thursday.

Cash hog prices were reported in a range from steady to as much as $1 per hundred pounds lower on limited buying interest and mainly for deliveries late next week.

Many producers were unwilling to sell additional hogs at current prices and will wait until after the Memorial Day holiday in hopes that demand for the animals will improve, livestock dealers said. Gains in lean-hog futures also limited selling interest in the cash markets, dealers and analysts said.

The terminal markets traded steady in light-volume tests with top prices from $61 to $62 on a live basis.

The latest Dow Jones Newswires pork packer margin index was minus $7.16 per head, compared with plus $4.72 the previous day.

USDA's pork carcass composite value, a measure of wholesale prices, Thursday fell $3.51/cwt to $89.75, the lowest since Feb. 17. The pork carcass price has fallen in five of the last six days as buying interest declined just ahead of the Memorial Day holiday. The majority of the pork to be used for Memorial Day retail promotions was shipped last week.