Hogs rally $20 in less than a month

Hogs, a market that one broker in our office called the "soybeans of the meat complex", lived up to that name today. Gains of over $2 were noted for each of the first four contracts. A push to new highs and a close near the highs of the day, different than yesterday, are positive signs. Hog numbers in from Canada are questioned. Additionally, the trade continues to wonder if actual offered US hog numbers are tighter than expected.

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