Lean hog futures were steady to 70 cents lower across the board on Monday. Open interest was down 1,039 contracts. USDA’s national base hog price was reported at $97.77 on Monday afternoon, up $3.86 from the day prior. The CME Lean Hog Index was back down 27 cents on June 18 at $92.17.
Friday afternoon’s Commitment of Traders report indicated a total of 7,258 contracts added to the new managed money net short in lean hogs in the week of 6/16. That net short was 20,959 contracts on Tuesday.
