Good morning. Hogs are going to try to bounce today? Let's see what they can do! Cash was lower yesterday and expected to be lower again today. Sources indicate packers are already well supplied, if not booked for the week. The pork cutout took another huge hit last night, down $4.55 at $106.46. A sharp decline in ham and belly prices was responsible for the decline in carcass value. Speaking of value, I can confirm from several sources that pork is picking up demand directly because of high priced beef. Thus, asthe pork erodes in value, value will eventually stabilize the market. I have no recommendations in the hogs at this time. Personally, I believe the board is holding too much of the discount. However, that's simply not a good enough reason to buy the market but perhaps a good enough reason to "not sell it". I'd suggest looking to another market.

Looks like Dennis is also spooked by this market, I can sure understand why!
Dewey