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“As of midweek last week, speculative funds were still holding a near 60,000 contract net long, and yesterday’s break is likely to prompt additional liquidation,” the Hightower Report said. “The detection of pseudorabies is another bearish factor, but we have not yet heard of any restrictions on U.S. pork by global importers. On the positive side, Tyson Foods bumped up their quarterly earnings projections saying consumers are buying more chicken and pork due to very high beef prices.”
