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Lean Hog Futures closed on Friday with October contracts up 85 cents for the week, while the USDA reported a national base hog price of $103.61, a decrease of $1.99 from the previous day. The CME Lean Hog Index was recorded at $105.70 on September 17, down 16 cents.
Managed money increased their net long position in lean hog futures and options by 7,835 contracts, reaching a record total of 142,258 contracts for the week ending September 16. The USDA estimated federal hog slaughter at 2.593 million head this week, up 85,000 head from last week and 75,977 head from the same week last year.
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