Pork futures traded in erratic fashion throughout the session as shorts covered positions on the heels of supportive wholesale pork demand and packers paying up for supplies in some sections of the Midwest hog-growing states. Country hog-buying sources foresee generally steady cash prices on Thursday with possible instances of firmness.

Meanwhile, April's pending expiration, April and June's bearish premiums to CME's hog index, and the rise of daily slaughters again above 400,000 head kept a lid on April and hindered June's push into positive territory.

On the other hand, Iowa/Southern Minnesota hog weights for last week that were down from the week before and a year ago fostered ideas that hog marketings may tighten soon and underpin cash prices.

Technically, hog market bulls were inspired by April's settlement above 10- and- 20-day moving-average support markers. Furthermore, June matched its one-week high after finally punching through 40-day moving-average resistance that will become an area of support on Thursday.

More snow and slushy conditions are forecast for parts of the upper Midwest on Thursday that a handful of bullish market participants viewed as mildly bullish because of possible transportation interruptions. However, their bearish counterparts discounted that notion, citing calls for warmer temperatures heading into the weekend.

Source: FXSTREET.com