Only August ventured outside of Tuesday's range and hit nearly a three-week high in the process.

April was pushed and pulled in both directions in Wednesday's session amid uncertainty on which direction the market should take, floor brokers and traders said. April's premium to current cash prices drew some selling interest but dips led to buying on ideas that the cash market could move up to meet futures by the end of next week.

Fund selling pressured June hogs earlier in the day but the 20-day moving average and Tuesday's low served as solid support to limit declines. July and most of the contracts behind it rallied to end higher on the day. Brokers said local buying helped lift the back months.

Ken Jolliffe, analyst with Bump Investor Services in Cedar Rapids, Iowa, said the outlook for cash hog prices is still positive, but some profit-taking occurred in the front months after Tuesday's gains.

A floor broker predicts that trading in futures and the cash markets could be slow Thursday as the action gears down heading into the holiday weekend. Trading in livestock futures and options on Thursday will end one hour early.

April hogs finished unchanged at 65.37 cents. May closed 10 points lower at 75.32. Most active June ended 47 lower at 75.60.

Spreaders bought April, sold June hogs and were buyers in July, brokers and traders said. Funds were light buyers in June late in the session.

Source: FXSTREET.com