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“Open interest dropped over 6,400 in August yesterday, an indication that managed money shorts were likely covering positions and that may continue today,” the Hightower Report said. “After numerous false starts over the last month, the bulls finally have the decisive edge.”
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Lean hog futures were mixed, with front months rallying 50 cents to $1.70, as deferreds were down 7 to 30 cents, Austin Schroeder wrote for Barchart.
In weighted average negotiated prices for barrows and gilts, USDA reported:
U.S. pork export sales for the week ending July 2 came in at 17,700 tonnes compared with the average of the previous four weeks of 25,900 tonn…
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