Lean hog futures continued the mixed trend last week with contracts up 85 to 67 cents lower. August was up 25 cents on the week. Open interest was down 9,936 contracts on Friday. USDA’s national base hog price was up $1.25 in the Friday PM report at $98.30. The CME Lean Hog Index was 37 cents higher on July 8 at $92.35.
The weekly CFTC Commitment of Traders report showed managed money adding another 1,635 contracts to their near net short position in the week of July 7. That took the net short to 29,002 contracts.
