Lean Hogs Took a Nose Dive
MORNING LIVESTOCK OUTLOOK
Lean Hogs took a nose dive Wednesday. It was expected. Traders have been consistently bear spreading. Year to date slaughter for 2023 is close to 1.5% higher.
Wednesday was the first time that June 2023 Live Cattle were below the 200 day moving average since September 30, 2022. Also, other moving averages have turned down and are crossing over higher averages. The 5, 10 and 20 day averages have turned down with the 5 and 10 day crossing over the 50 day. These are significant changes.
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