The Hightower Report said, “August closed lower yesterday on weak cutout values. Today may be a key test for the bulls whether prices are going to carry higher after the strong close early this week. This afternoon’s Quarterly Hog and Pig report is expected to show June 1 inventory at 100.09% of last year, breeding herd 99.3% and market hogs 101.1%. U.S. pork exports have been a bright spot but new contract highs in the U.S. dollar may be trimming U.S. competitiveness. Open interest rose just under 1600 contracts yesterday but remains near its lowest levels of 2026.”