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Recap Hog Market Report
Wed 22 Feb 2012 15:18:01 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
April hogs traded slightly higher on the session early in the day and surge to sharply higher on the day into the mid-session. The rally pushed the market to the highest level since December 8th. The market closed well off of the highs as profit-taking emerged to reduce the gains late as traders lacked a good "reason" for the rally. Cash markets traded mostly steady on the day with a few terminal locations up slightly. This was a bit better than expected. Belly prices were lower to drag cut-out values lower yesterday but traders see the ham rally this week as positive. Slaughter came in a bit below expectations for the second day in a row at 421,000 head.
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