Pork futures dipped at the start as potential buyers hugged the sidelines while they pondered April's open interest, which as of Monday was at 11,l498 versus only 7,025 a year ago, with only a few days to go before the contract's pending expiration.

Spot-April lean hogs were also hounded by its bearish premium to CME's hog index. And, market bulls were nervous at the likelihood that daily hog kills will again return above 400,000-head after processors who were offline Monday for the Easter holiday make up for lost time.

Cash ideas for Wednesday are clouded by talk of post-Easter ramped-up hog slaughters amid slowly eroding estimated packer profit margins. And while parts of the upper Midwest is digging out from a few inches of snow, weather isn't expected to be a factor as the week progresses in terms of moving animals to market as temperatures slowly moderate.

Technically, further April lean hog declines on Wednesday will put the spot month in conflict with the 20-day moving average support. Meanwhile, June's 40-day moving average is a Wednesday resistance barrier.

Source: FXSTREET.com