Lean hog futures slipped back lower on Friday, with contracts down 20 cents to $1.05, as October was still up $1.10 last week. Preliminary open interest was up 4,856 contracts on Friday. USDA’s national base hog report from Friday afternoon saw trade averaging $103.94, down $3.35 from the day prior. The CME Lean Hog Index was back up 11 cents on September 10 at $106.04.
The large managed money spec traders in lean hog futures and options added another 10,532 contracts to their now near record net long position of 134,423 contracts by Tuesday.
