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Lean hog futures closed the week mixed, with contracts down 55 cents to up 25 cents. The national base hog price fell $3.07 on Friday, while the CME Lean Hog Index was $84.07.
Managed money kept adding to its net long position, and the pork cutout rose $1.11.
Mixed closes and a falling cash base price suggest limited direction for hog prices, though the rising cutout and managed-money buying offer some support.
ibestmedia.comSep 30, 2024Not 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.
