HOGS SELLOFFSETTING UP A MAJOR BUY? Last month they were forming technical support suggesting a bottom on their long term charts. That was quickly negated as of this month. They now appear headed for their 2009 low at 43.05. Will they take it out? Since their low at 22.55 in 1998, that price has not been touched since. In fact they established a long term uptrend. In 2002 in one month they collapsed (eerily similar to this month) but did not take that low out as they stopped at 30.05. They did not have another steep selloff again until 2009 and that low held at 43.05. After those lows hogs recovered each time to make new highs. So if their long term uptrend remains hogs should test but not take out that 43.05 low. And we could soon be looking at a major buying opportunity.

As always there are lots of possibilities with the hog market!
Dewey