On Friday, Chicago Mercantile Exchange (CME) lean hog futures dipped due to technical selling and a drop in pork cutout values. December lean hog futures (LHZ24) fell by 0.600 cents to 79.500 cents per pound. The decline in pork cutout values on Thursday afternoon contributed to selling pressure from speculative funds holding significant long positions, according to Austin Schroeder, a commodity analyst at Brugler Marketing and Management. The CME lean hog index price was $89.78 for the two days ending on Nov. 13, slightly down from $89.94 for the prior two-day period.
