U.S. lean hog futures closed mostly lower on profit-taking after recent gains and pressure from outside markets.
CME lean hogs for August close down 0.575 cent, or 0.7%, to 86.75 cents a pound. Some deferred contracts closed higher.
After climbing sharply through the second half of last week on higher cash prices, traders took profits on long positions Monday. Traders also noted weaker equities weighed, as concerns about the economy continue to loom overhead.
Ginzel said a Monday USDA report reaffirmed corn prices are going to stay high, which could mean curtailed hog production and ultimately higher prices.
Cash hog bids were reported generally steady on buying interest from some plants for additional supplies to fill their slaughter schedules later in the week.
Profitable processing margins are seen encouraging pork packers to slaughter more hogs if available. Some livestock dealers and analysts predict this week's slaughter may reach 2.2 million head or more, compared with 2.170 million a year ago.
The latest Dow Jones Newswires pork packer margin index was plus $16.92 per head, compared with plus $16.74 the previous day.
The terminal markets traded mostly steady in light volume tests to begin the week.
The USDA's pork carcass composite value, a measure of wholesale prices, on Friday was down 76 cents at $94.23 a hundred pounds.