Lean hog futures opened the week steady to slightly higher with the nearby contracts experiencing the largest gains.

Tyler Fulton, director of risk management with Hams Marketing Services, notes that forward contract prices opened the week mixed.

He talked about what the cash markets have been doing as of late.

"The U.S. cash markets kind of developed into the seasonal pattern. They were moving in a counter seasonal way for most of October, but when we started into November and by the time we got halfway through November it was obvious we were seeing some pressure on cash prices."

Fulton notes to avoid a further decline in live hog prices, wholesalers will need to provide some feedback to packers that demand is keeping up with supply.