Reuters – Hedge funds cut bullish bets on hog futures to the lowest in 19 months amid speculation that U.S. consumers will curtail spending on pork following increases in meat and energy costs.
Funds and other money managers reduced net-long positions, or wagers on rising prices, by 33 percent to 13,745 futures and options contracts on the Chicago Mercantile Exchange in the week ended May 17, the lowest since October 2009, weekly data from the Commodity Futures Trading Commission showed on May 20.
