Hogs Slipping Lower on Tuesday’s Midday

Lean hog futures are down 12 cents to $1.30 on Tuesday, while the CME Lean Hog Index slipped 19 cents to $90.88 on May 21. USDA’s national base hog price was not reported due to low volume, pointing to thin trade conditions. CFTC data also showed managed money trimming positions further, a negative signal for near-term sentiment and positioning.

Analysis

Lean hog futures are down 12 cents to $1.30 on Tuesday, while the CME Lean Hog Index slipped 19 cents to $90.88 on May 21. USDA’s national base hog price was not reported due to low volume, pointing to thin trade conditions. CFTC data also showed managed money trimming positions further, a negative signal for near-term sentiment and positioning.