Lean hog futures are trading with contracts 30 to 75 cents higher at midday. USDA’s national base hog price was reported at $89.61 on Monday morning, up 65 cents from the day prior. The CME Lean Hog Index was 36 cents higher on Feb 19 at $87.95.
Managed money cut 16,820 contracts from their large net long position in the week of 2/17, with the net long at 116,461 contracts.
