Lean hog futures are up $1.15 to $1.95 at midday. USDA’s national base hog price was not reported in the Wednesday AM report du to low volume. The CME Lean Hog Index was down another 80 cents on November 24 at $82.81. The market will be closed on Thursday for Thanksgiving, with a normal open on Friday and an early close.
CFTC data for the week ending on 10/14 showed managed money cutting 12,312 contracts from their net long position, at 28,928 as of that Tuesday.
