New highs for deferred hogs

February futures have rebounded back to levels near last week's highs. Though this market remains in a three week uptrend we will continue to note last week's move up simply filled the last upside gap on the charts, exactly. We still have not moved back over the top end of that 83.72 gap on the February. Both April and June futures did post a new-high close for this uptrend though. The seasonal increase in supplies is near its peak for the year.

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