This could have been the day! I tried buying some more Oct & Dec but missed by .30. I have a lot of hogs, the most I have had for some time!

I am going to relate some thoughts I just read from Hightower by Terry Roggensack, he had a full page of comments I will just give the highlights.

It is very rare that any market closes lower for more than 7 days in a row but Oct hogs closed down for 13 sessions in a row!! It moved from a contract high to a contract low in just 25 trading sessions. Continued weakness in the cash market helped to offset news this week of record pork imports into China for the month of June. China imported 194,165 tonnes in June (up 215 %),the highest for any month this year. Year to date imports reached 762,359 tonnes, up 138% from last years pace.

While the situation in the hog market looks bleak now, it should be pointed out that the seasonal increase in production from the 3rd to the 4th quarters this year is expected to be just 300 million pounds, down from about 500 million last year and well below what would be considered a "normal" year. It also would be the third lowest on record going back to 1970!

New slaughter plants are opening and pork slaughter capacity is on the rise.

Well Itz, I don't know if today was the day but I certainly hope so!! Have a good weekend.

Dewey