Lean hog futures closed Friday with most contracts down 50 to 75 cents, as expiring February was up 20 cents. April fell $6.67 this week. USDA’s national base hog price was reported at $85.22 on Friday afternoon, down $1.73 from the day prior. The CME Lean Hog Index was 37 cents higher on Feb 11 at $86.89. The markets will be closed on Monday for President’s Day.
CFTC data as of Tuesday pegged managed money net long 133,281 contracts, a 4,424 contract increase in the week.
