Lean hog futures are mixed, with front month July down 35 cents and other contracts up 60 to 77 cents. USDA’s national base hog price was reported at $97.47 on Tuesday morning. The CME Lean Hog Index was back down 53 cents on June 19 at $91.64.
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.
