Lean hog futures were down a nickel in the soon to expire December contracts, with other contracts up 55 to 85 cents. USDA’s national base hog price was reported at $70.05 on Wednesday afternoon, down $1.38 from the day prior. The CME Lean Hog Index was up 5 cents on December 8 at $81.89.
Commitment of Traders data showed a total of 7,306 contracts cut from the managed money net long in the week of 11/10 at 71,512 contracts in lean hog futures and options.
