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Hedge funds built a record net short in CME lean hog futures, reaching 44,186 contracts on September 29 and 111,260 short contracts by October 13. Lean hog futures fell about 22% between August and October as the short position grew.
A record fund short positioning indicates heavy bearish sentiment that can amplify downside but also raises short-covering risk, affecting hog price direction and hog-linked feed demand.
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.