The Goldman roll continues today. This roll wrecked the Oct hogs yesterday but the market is showing some stability today. Cash hog prices were higher yesterday, mostly up $1.00 with a firm tone expected again for today. Producers have been pulling hogs ahead of schedule since early Aug and it's finally created a hole. Futures have correctly anticipated this by rallying sharply off the lows established in mid-August. The hog index stands at 9679, thus both Oct and Dec are holding a substantial premium to cash. I'm trying to get my hog producer hedgers involved in the market and having limited success. Funny, many were pressing me hard about hedging near the lows in Aug, suggesting that the market was "getting away" from me. Now, with Dec hogs $12 off their lows, and holding a substantial premium to cash, no one is interested in hedging? That's what the markets do to people. My next play will be looking to the short side of Dec hogs for a spec play.
Still holding, still short. I posted Dennis's comments as I don't have any suggestions myself! I notice DH is out.