Hogs Look to Monday Trade as Pork Stocks See a Build

Lean hog futures closed higher on Friday across multiple contract months. August futures settled $1.20 higher for the week, while open interest increased by 442 contracts during the session. The CME Lean Hog Index rose 40 cents on July 22 to $97.48. USDA’s national base hog price declined $2.77 in the Friday afternoon report, settling at $99.37.
Commodity Futures Trading Commission data from the weekly Commitment of Traders report showed managed money reducing their net short position by