Lean hog futures saw weakness on Friday, with contracts down $1.67 to $2.42. December saw back and forth trade to close with a 70 cent losses on the week. USDA’s national base hog price from the Friday PM report was down $1.23 from the day prior at $70.64. The CME Lean Hog Index was down another 56 cents on November 19 at $85.71.
CFTC data for the week ending on 10/7 showed managed money trimming 5,048 contracts from their previous record net long position, at 141,240 as of that Tuesday.
