Lean hog futures were 22 cents to $1.50 higher across the board on Friday, with August hogs down $4 last week. Open interest was down 1,540 contracts on Friday. USDA’s national base hog price was reported at $100.41 on Friday afternoon, down 64 cents from the day prior. The CME Lean Hog Index was down a penny on July 29 at $98.44.
The weekly CFTC Commitment of Traders report showed managed money slashing 7,273 contracts from their previously near record net short position in the week of July 28. That took the net short to 10,884 contracts.
