Lean hog futures posted losses of 12 to 77 cents at the Friday close, with December down $2.30 this week. USDA’s national base hog price was at $74.26 in the Friday afternoon report, back up $1.75 from the day prior. The CME Lean Hog Index was down another 50 cents on October 7 at $78.41.
CFTC data from Friday showed spec traders in lean hog futures and options slashing 8,914 contracts from their net short position in the week ending on October 6. That took their net short to 35,272 contracts as of Tuesday.
