Hogs corrected upward yesterday making Monday “day number two” of the upside correction against the bear trend. Given the magnitude of the decline, the correction has been extremely shallow. So today marks day number three and we’re interested in selling if Oct approaches resistance which I define as 6200. We’re risking about 130 points if we get short. Cash is expected to remain soft to lower this week. The weekly kill is projected to come in above 2.1 million. Unreal that there’s not been any let up in the weekly kill right through the summer months. The product is a mess and that’s the nicest way I can describe what happening in the pork. Look for a corrective rally today but it may not hold.

Still Long, still Wrong!!
Dewey