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Lean hog futures were mixed at midday on June 29, with contracts within 50 cents of unchanged. The CME Lean Hog Index fell 23 cents to $91.55 and managed money held a net short of 25,560 contracts.
A large managed-money net short with a stable index leaves hog prices range-bound, with short covering a possible source of upside.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.