Lean Hogs Up The Limit

Lean hog futures are trading sharply higher. August Lean Hogs are trading at 78.37, up 2.45 and October Hogs are trading up the limit at 65.40, up 3.00. Trading has been firm. December Hogs are trading at 62.42, up 2.67. Market talk about a decline in weights and better product prices has led to some buying. Some chatter about producer selling just above current levels is making the rounds. The USDA is scheduled to release monthly Cold Storage data at 3:00 p.m. ET.