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The Hightower Report said, “Hogs closed out last week on a strong note and finished near the highs of the day on Friday in the December contract. Managed money aggressively extended their short net as of midweek last week by 24% to a new record with just over 44,000 contracts. The late week bounce triggered fund short covering and October open interest plummeted more than 9500 contracts, with open interest higher in all other months.”