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Lean hog futures rallied on Friday, recovering triple-digit losses from Thursday. Managed money added a record 19.6k contract net long position in lean hogs for the week.
USDA's pork cutout rose $2.88 to $101.34, led by a $19.72 gain in bellies.
A record fund net long and a stronger pork cutout point to firm hog price support heading into winter, supporting feed demand from producers.
barchart.comAlan BruglerOct 28, 2022Not 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.
