Hogs move up to new contract high

“Live cattle and feeder prices started steady this morning, but rallied in the second half of the session to finish the week higher,” The Hightower Report said.  “This week’s kill is expected to be a multiweek high as packer margins are profitable.”

“December hogs moved on up to a new contract high today, taking out the previous highs set back in June, as the technical breakout continues to gain steam,” The Hightower Report said. “Today marks the seventh consecutive day of higher daily lows and steady to higher highs have occurred in seven of the last eight sessions.”