Lean hog futures closed out Friday with losses of 50 cents to $1.65, as August was down $1.42 this week. USDA’s national base hog price was reported at $106.59 on Friday afternoon, dropping $5.74 from the day prior. The CME Lean Hog Index was up a dime at $107.14 on July 9.
CFTC data showed the large managed money speculators in lean hog futures and options trimming 2,788 contracts from their net long position as of Tuesday. They took that net position to 131,799 contracts as of July 8.
