Lean hog futures were in rally mode on Friday, as contracts were up $1.40 to $2.50 on the day. October was up $3.52 this week. USDA’s national base hog prices from the Friday afternoon report were down $1.32 from the day prior at $103.18. The CME Lean Hog Index was back up a 6 cents on September 24 at $105.06.
The Friday afternoon Commitment of Traders report showed managed money increasing their record net long position and lean hog futures and options by 186 contracts as of Tuesday, taking it to 142,444 contracts.
