Lean hog futures closed the Friday session fading lower, as contracts were 17 to 97 cents lower, with October was 12 cents higher for the week. Open interest on Friday was down 1,225 contracts. USDA’s national base hog price was $78.68 in the Friday PM report, down 27 cents from the day prior. The CME Lean Hog Index was down another 27 cents on September 23 at $82.20.
Managed money extended their record net short in lean hog futures and options by 4,147 contracts in the week of 9/22, taking it to 35,548 contracts.
