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“This week’s rally in the U.S. dollar is adding additional pressure, and the lean hog index continues to slip lower,” the Hightower Report said. “There is no indication of a technical bottom at this time… The heavy selling pressure earlier this week has eased, but there has been no buying enthusiasm to turn the market up from this week’s new contract lows.”
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In weighted average negotiated prices for barrows and gilts, the USDA reported:
“Open interest fell over 7,400 contracts in October, but rose nearly 13,500 in the December contract,” the Hightower Report said. “Cash hogs w…
“The close in new low ground keeps the clear edge with the bears but with managed money traders already holding a significant net short, downs…
Austin Schroeder at Barchart.com said, “Lean hog futures were down 72 cents to $1.62 across most contracts on Friday, with October slipping 77…
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