Lean hog futures settled the Thursday session with most contracts 30 to 65 cents higher. Open interest was down just 92 contracts on Thursday, suggesting a rotation of ownership. USDA’s national base hog price from Thursday afternoon was reported at $71.87, down $2.74 from the day prior. The CME Lean Hog Index was down another 40 cents on November 18 at $86.27.
Weekly export sales data showed 32,705 MT in the week of October 2, a drop from the previous week. Shipments were 29,209 MT in that week.
