Lean hog futures are down 310 cents to $1.52 at midday. USDA’s national base hog price was reported at $96.01 on Monday morning, up $1.83 from the day prior. The CME Lean Hog Index was up 9 cents on June 4 at $92.60.
The weekly Commitment of Traders report from CFTC showed managed money in lean hog futures and options at their first net short position in nearly two years of 6,551 contracts, a flip of 19,536 contracts to the short side on that week.
