Lean hog futures found some buyers to close out the week, with contracts $1.10 to $1.57 higher on the week. October was 37 cents in the green on Friday, with a weekly loss of 35 cents. USDA’s national base hog price was reported at $77.23 on Friday afternoon, up 30 cents from the day prior. The CME Lean Hog Index was back down 24 cents on September 30 at $80.71.
Friday's Commitment of Traders report showed managed money in lean hog futures and options extending their record net short position by another 8,638 contracts in the week ending on Tuesday, taking it to 44,186 contracts.
