Lean hog futures posted losses of $1.45 to $1.80 on the Wednesday session. OI dropped 10,642 contracts. USDA’s national base hog price was up 15 cents in the Wednesday afternoon report at $69.71. The CME Lean Hog Index was up 31 cents on December 15 at $83.30.
CFTC data, now just 2 weeks old, showed spec funds at a net long of 46,650 contracts in lean hog futures and options as of the week ending on December 2. That was a drop of 3,543 contracts from the week prior.
