Lean hog futures closed out February with contracts steady to 40 cents lower, as April held onto a $2.05 gain this week. USDA’s national base hog price was reported at $90.38 on Friday afternoon, down 62 cents from the day prior. The CME Lean Hog Index was 41 cents higher on Feb 25 at $89.12.
CFTC data showed a total of 522 contracts added to the managed money net long position in lean hog futures and options at 116,983 contracts.
