Lean Hogs Are Climbing on the Back of Record-High Beef Prices. How Much Higher Will Prices Go Here?

Group 1 - April lean hog futures are showing a buying opportunity as prices trend upward, recently reaching a three-month high, indicating a strong near-term technical advantage for bulls [1] - The cash hog market has rebounded from its seasonal low, with historically high beef prices driving increased substitution demand for pork [2] - A breakout in April lean hog futures above the resistance level of $91.925 would empower bulls further, with a price target of $100.00 or higher, while technical support is identified at $88.50 for protective sell stops [2]