Hogs prepare for seasonal pricing.

Lean hog futures posted moderate gains today. The trade is trying to shake off this 11.65 break in pricing from 8/11 highs to the 8/25 lows. US hog slaughter is only moderately lower than expected. August is normally a bearish month with seasonally rising supplies and the end of Labor Day procurement. Bears would also like to see that one last well-known downside cahrt gap filled.

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