Lean hog futures were down 80 cents to $2.62 at the close, as June was up just a dime on the week. Open interest was up 830 contracts on Friday. USDA’s national base hog price was reported at $93.23 on Friday afternoon, down 41 cents from the day prior. The CME Lean Hog Index was back up 34 cents on May 27 at $90.92.
Managed money continues to liquidate their once large net long position in lean hog futures and options, cutting another 20,728 contracts to a net long of just 12,985 contracts. That is the smallest net long since August 2024.
