Hogs Look to Thursday Trade

Lean hog futures experienced a decline on Wednesday, with losses ranging from 87 cents to $1.40. A notable decrease in open interest indicates that traders are liquidating long positions, with a drop of 2,146 contracts. Meanwhile, the USDA reported a slight increase in the national base hog price to $92.89, a 12-cent rise from the previous day. The CME Lean Hog Index also recorded an upward adjustment of 10 cents. Overall, the market is displaying some bearish sentiment amidst ongoing volatility in pricing.