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Lean hog futures fell on Friday, with the December contract down $5.35 for the week. Managed money increased its record net short position, while estimated slaughter was above both the previous week and the same week last year; the pork cutout value rose in the afternoon report.
Rising slaughter and record speculative net shorts reinforce pressure on hog prices, even as the pork cutout and cash hog price showed gains in Friday reports.
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.