Lean hog futures posted 90 cent to $1.27 gains to close out Friday, as October was up $1.02 on the week. Open interest was up 2,289 contracts. USDA’s national base hog price was reported at $89.57 on Friday afternoon, down 19 cents from the day prior. The CME Lean Hog Index was down another 28 cents on August 26 at $92.14.
Friday’s Commitment of Traders data showed managed money adding 7,649 contracts back to their now record net short position in lean hog futures and options during the week of August 25. That took their net short to 31,135 contracts.
