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The Hightower Report said, “June hogs managed a slightly higher close yesterday but face stiff headwinds today as the stock market is sharply weaker and crude oil is now up more than $12 a barrel. This may revive U.S. retail pork demand concerns related to an extended period of high energy costs. Last week’s gap higher appeared to end the recent pullback, but the market has not been able to get any extension to the upside and a close below the gap at 104.55 would favor the bear side.”
