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April Lean Hogs opened lower, traded lower to test support at 95.30 as it made its low at 95.075 then raced to the session high at 96.55, stopping its rally just shy of the Hogs recent high at 96.65. It traded down from the high and consolidated in the lower end of its trading range the rest of the session settling at 95.575. The cash markets are moving higher lending support to the futures market but futures are unable to take advantage of the strength in the cash markets. Maybe it’s because the cash markets have a tendency to pullback during the month of March and into April. So far however, cash continues to creep higher as the first trading day of March saw the pork cutout make a new high for the move. Traders remain unsure if the cash strength can continue going forward and are waiting for more information before it makes its next move. Hogs have formed a ledge with the high at 96.65 and the low at 95.075. Price is hanging around support at 95.30 and the flat 21-DMA now at 95.225 and the 96.65 high. If price can hold settlement, we could see a re-test of 96.65 high. Resistance then comes in at 97.30. A failure from the low could see price test support at the flat 13-DMA now at 93.975. Support then comes in at 93.50. We’ll see!...
The Pork Cutout Index increased and is at 97.40 as of 02/27/2026.
The Lean Hog Index increased and is at 89.44 as of 02/26/2026.
Estimated Slaughter for Monday is 482,000, which is above last week’s 477,000 and last year’s 483,434.
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Ben DiCostanzo
Senior Livestock Analyst
Walsh Trading, Inc.
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