Ted Seifried analyzes the recent downward trend in June Lean Hogs futures, noting an eighth consecutive lower close and a second session closing below the 200-day moving average. Prices have retreated to their lowest levels since December 19, erasing early-year gains as traders watch for potential support at the bottom of a lower-trending channel established in February. Meanwhile, USDA pork cutout values have slid $4 from Tuesday, though the approaching peak summer grilling season could eventually stimulate domestic demand. On the export front, weekly sales remain robust at 37,300 metric tons, a 19% increase from last week, indicating consistent international demand despite domestic headwinds.