Lean hog futures saw strength on Friday, up a tick to 65 cents. August was up $1.80 on the week. Preliminary open interest was dropping 6,605 contracts on Friday. USDA’s national base hog price had a weighted average of $105.55 on Friday afternoon, down $5.15 from Thursday. The CME Lean Hog Index was up 43 cents at $107.63 on July 16.
Speculators in lean hog futures and options cut 17,186 contracts from their net long position in the week o July 17 to 114,593 contracts.
