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Lean hogs

Lean hogs

Additional follow-through selling pressure pushed hog prices lower on Tuesday as most futures posted triple-digit losses. The hog market is oversold and due for a bounce, especially with the premium in the cash index to the front-month futures, Total Farm Marketing said.

October hogs have closed lower for eight sessions.

“The extreme oversold condition of the market plus the historically wide basis leaves the market vulnerable to a strong recovery bounce, even with minor supportive news,” The Hightower Report said.

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Hog markets are seeing a “strong recovery bounce” out of an oversold condition as cash basis is “historically wide,” The Hightower Report said…

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The hog markets are “steady to lower” but there is an opportunity for a bounce, Total Farm Marketing said. “Yesterday, prices pushed under the…

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