Lean hog futures are trading $2 to $2.25 higher in the front months as Feb was up 80 cents. USDA’s national base hog price was not reported on Monday morning due to light volume. The CME Lean Hog Index was up another 6 cents on Jan 29 at $85.78.
CFTC data indicated managed money increasing their net long in lean hog futures and options by 16,388 contracts, taking it to 113,806 contracts as of Tuesday.
