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Lean hog futures closed 12 1/2 to 70 cents higher in all but the May contract, which ended 10 cents lower. Far-deferreds also posted slightly losses. Nearby futures ended near session lows, while summer-month contracts closed near daily highs. Hog futures benefited from spillover from sharp gains in live cattle futures, although buying was limited as traders are concerned that packer demand for hogs could wane given negative profit margins.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.