U.S. lean hogs finished mostly higher, supported by the gains in cattle and tight cash supplies.
Demand has been lackluster, but is expected to pick up seasonally, analysts said.
Vaught said that while cattle slaughter typically reaches a peak this time of year, hogs slaughtered usually declines. That could give lean hogs an extra bounce after falling sharply in recent weeks, he said.
Cash hog bids ranged from steady to $1 per hundred pounds lower. Most of the processing plants have sufficient supplies and are nearly full for this week, according to livestock dealers and market managers. However, some predict that cash prices may be near a short-term low and that supplies of slaughter-ready animals may tighten further. The arrival of warmer temperatures and high humidity tend to trim daily weight gains in the finishing barns.
The terminal markets traded flat to as much as $3 lower with top prices at mostly $60 on a live basis.
The latest Dow Jones Newswires pork packer margin index was minus $2.32 per head, compared with minus $2.40 the previous day.
USDA's pork carcass composite value, a measure of wholesale prices, Monday was down $2.13 per hundred pounds at $87.64, its lowest since late January.