Ditto for me on passing the money and needing to balance the boat this morning.

Last Tuesday/Wednesday, I was all 'bulled up' thinking that two days of cash hog and carcass strength painted a contra-seasonal picture. I was looking for reasons to stay long (like a potential hole in marketings) and the market spanked me.

The pork cutout looks mighty strong and this implies the consumer is staying with pork. From the figures I look at, the packer margins look comfortably profitable through this entire year.

Forecast is for a couple of hot/humid days and let's see if any reduced hog movement in Iowa/So. Minnesota will impact the air conditioned trading at CME.