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“CFTC data confirms managed money increased their net short position to a new record high but that in and of itself is not a friendly factor until the market finds a technical bottom that triggers fund short covering,” the Hightower Report said. “CME Lean Hog Index as of Oct. 29 was 66.57, down 0.73 for the day and down 4.59 versus a week ago. This is the lowest since Jan. 16.”
