Lean hog futures posted nearby gains of 40 cents to $1 on Friday, as December was up $1.05 last week. USDA’s national base hog price was reported at $71.53 on Friday afternoon, down $1.12 from the day prior. The CME Lean Hog Index was up 16 cents on December 3 at $81.83.
Commitment of Traders data from Friday afternoon showed managed money slashing 22,070 contracts from their net long in lean hog futures and options as of October 28. That took the net long to 95,161 contracts.
