# Hogs Hold Support, Surges to a New High for Recent Up Move - Walsh Trading

> October lean hogs opened lower, tested support near 79.525, then rallied to close above resistance at 83.325 with a high of 83.825. The rally followed a weekly weight drop of 4 pounds and was attributed to possible packer hog pulling or heat effects. Cutout and lean hog index values were both lower.

- Date: 2023-08-30 · published 2023-08-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34726-hogs-hold-support-surges-to-a-new-high-for-recent-up-move-walsh-trading
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Technical strength after weight declines may signal tighter near-term hog supply, supporting hog prices, but the move is a chart-based market update without a new fundamental cause.

## Read by commodity

- HOGS: bullish ▲

## Sources

- walshtrading.com: https://walshtrading.com/hogs-hold-support-surges-to-a-new-high-for-recent-up-move/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.