Lean hog futures are trading with gains of 45 to 85 cents so far on Monday. USDA’s national base hog price was not reported on Monday morning, due to light volume. The CME Lean Hog Index was down another 80 cents on October 8 at $77.61.
CFTC data from Friday showed spec traders in lean hog futures and options slashing 8,914 contracts from their net short position in the week ending on October 6. That took their net short to 35,272 contracts as of Tuesday.
