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(August 15, 1997) HOGS: It appears that the hog market pulled the “old head fake.” Closing higher on Thursday attributed to short covering and futures discount to the lean hog index. Friday's selling pressure came from weaker cash markets and slow demand. There was approximately 250 unfilled contracts in the October and 100 unfilled contracts in the December lean hogs. February bellies had 100 unfilled sell orders on the close. Technically, October closing below 72.00 on a weekly basis projects a move to the 70.00 level and potentially to the 68.50 area.

Paul Georgy

Consensus National Futures and Financial On Line Index
Livestock Index

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