Lean hog futures are mixed with contracts 55 cents higher to 75 cents lower. USDA’s national base hog price was reported at $93.83 on Monday morning, up $1.01 from the day prior. The CME Lean Hog Index was back up 48 cents on May 28 at $91.40.
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.
