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Lean hog futures traded steady to 77 cents lower on Monday, with December near $58.10. The CME Lean Hog Index fell 73 cents to $66.57 on October 29, and managed money kept a record large net short in lean hog futures and options.
Routine price wrap with no new supply or demand cause; the record fund net short points to continued bearish sentiment for feed demand from hog producers.
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.