Same story...different day; cash hog prices were lower yesterday and expected to be lower today and most likely will be lower again on Wednesday. The pork cutout continued to decline, reported yesterday down .92 at $102.68. Futures continue to trade discount to a falling CME lean hog index. However, the board is anticipating an end of the fundamental mess perhaps fairly soon. The discounted board is finding fewer sellers and more buyers. After trading lower all night in the electronic trade, futures have turned higher this morning ahead of the pit opening bell. I'm looking for a pullback to re-establish long positions which we pitched over the last couple of weeks. At some point and at some price the pork is going to get cheap enough to attract large buyers. Recommend using 100 to 200 point pull backs from current levels to look at the long side of the market.

I am still holding longs in oct & dec. Selling some feb today hopefully to offset some!
Dewey