Lean hog futures also rose Friday as traders shifted positions after days of sharp losses.

August hog futures rose 1.55 cents, or 1.8%, to 88.37 cents a pound in trading at the Chicago Mercantile Exchange. CME October hog futures rose 1.75 cents, or 2.1%, to 84.87 cents a pound.

Friday's rally in the hog complex reversed portions of the steep fall in prices that futures have been riding since early August. The industry is bracing for a sharp seasonal rise in hog supplies after a summer of tighter supplies witnessed all-time record prices for hogs and futures.

Hog producers typically grow their production starting leading into fall, when consumers eat more meat and cooler weather makes for more efficient hog-raising. Slaughter rates are expected to grow 15% between this week and October.

Cash hog prices were reported steady to as much as $1 per hundredweight lower. Buyers were bidding mainly for deliveries during the second half of next week.

This week's slaughter was estimated at 2.046 million head, down 1.3% from year ago. Some livestock dealers and analysts predict slaughter next week to reach or exceed 2.1 million head.

The terminal markets traded steady to $1 per hundredweight lower on a live basis with top prices from $67 to $71 per hundredweight on a live basis.

The USDA's pork carcass composite value, a measure of wholesale prices, on Thursday was down 52 cents at $106.93 a hundred pounds.