August lean hog (HEQ26) futures last week gained $2.175 while hitting a nearly four-week high. August hogs posted a strong rebound last Thursday to produce a technically bullish weekly high close that will likely keep the chart-based bulls energized this week. Bulls are keeping alive a fledgling price uptrend on the daily bar chart, to suggest still more upside potential in the near term.
The latest CME lean hog index is up 24 cents to $91.48. Today’s projected CME index price is up 18 cents at $91.67. The national direct five-day rolling average cash hog price quote for last Thursday was $96.98.
