“October Lean Hogs finished down 0.05 at 74.77, 0.82 off the high and 0.62 up from the low. December hogs saw minor downside follow through after yesterday's sharp break and tested minor.382 retracement support at 67.20. More important 50% retracement support rests at 66.20. Short-term technical indicators turned lower yesterday and point to a further pullback. If prices extend to the.618 retracement level, December could fall to 65.15. Look for resistance on a rebound to 69.15. USDA pork cutout came in at 106.92 this morning, up.14 from yesterday morning and up 1.11 from the afternoon,” The Hightower Report stated.
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