Lean hog futures posted mixed trade on Friday, with contracts within 12 cents of unchanged across the board. December was was down just 47 cents this week. USDA’s national base hog price from Friday afternoon was down 82 cents at $85.56. The CME Lean Hog Index was down another 55 cents on October 22 at $93.63.
Heading into the government shutdown, specs were at a record net long. We don’t have CFTC data, though price movement and open interest in the last month would indicate some of those longs have liquidated.
