“April hogs shot higher yesterday regaining nearly all the losses from Monday and filling Monday’s gap on the daily chart. Open interest on Monday’s break did not decline significantly as managed money traders held tight. The bull camp appears to assume since Trump was willing to pause tariffs for one month, the odds have risen that an agreement can be reached before the March 1 deadline to avoid a disruption in pork exports. If April hogs gapped higher this morning, it would be a bullish sign the market wants to retest last week’s highs.”