Lean hog futures closed mostly higher Monday amid support from expectations for seasonal strength in the cash market and wholesale pork prices.
In other markets, live cattle closed mixed and feeder cattle were lower.
April lean hogs closed up 0.10 cent at 93.25 cents a pound. June, the most-active contract, was up 0.40 cent, or 0.4%, at $1.0105.
Lean hogs also saw support from the export markets, which remain strong, said Steve Wagner, analyst with Country Hedging. Export strength could keep futures from making a seasonal decline around the Easter holiday, he said.
April hogs, which will expire on Thursday, appear to be fairly priced with the cash market, said Don Roose, analyst with US Commodities.
Higher corn prices continue to be supportive for lean hog futures as more expensive feed costs could cause further cutbacks in the swine breeding herd and pull down supplies later this year and into 2012.
In the cash markets, pork processors were bidding mostly flat prices to begin the week, and some processors may have to pay more for hogs as the week progresses to get the loads needed to fill their slaughter schedules, according to some livestock dealers and market managers. Others said packers may try to hold the line on prices after reducing their slaughter schedules last week.
Wholesale pork prices Friday were up $0.32 per hundred pounds at $94.28.