Hogs Are Finally Nearing The Chart Objective

New lows for the two-month downtrend in lean hog futures were reached today. At 99.50, the day's low came within 0.85 of filling that target from the bearish chart formation we have been following. There is no change to report with China's COVID situation. May futures are preparing for their expiration directly ahead. This year's cash hog rally from the April expiration has been minimal.

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