Lean hog futures posted gains of 32 to 75 cents across the front months on Friday, with October up $3.825 last week. Preliminary open interest rose 4,650 contracts on Friday. USDA’s national base hog report showed negotiated prices at $104.91, down $3.28 from the day prior. The CME Lean Hog Index was down 20 cents on August 27 at $106.43. The market will resume trading this morning following the Monday holiday.
The Friday afternoon Commitment of Traders report showed speculators adding 8,274 contracts to their net long position and lean hog futures and options as of Tuesday. By August 26th, that net long was 114,042 contracts.
