Hogs Fill The First Chart Objective

After a short lived attempt at higher pricing in the morning trade, the relentless selling effort returned in hogs. Another new low was posted. seen for this downtrend in hog futures. Until the market sees otherwise, the US market is now pricing in a zeroed-out worse-case scenario for future Chinese purchases. The first of the market's two chart based downside targets, the 101.95 - 102.07 gap on the June contract, was filled.

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