Hogs rallied in the first three contracts yesterday on volume reported at 37,736 and open interest rising by 820 cars. Open interest, however, was lower in the Dec and Feb, suggesting short covering out of these two contracts. Most likely small specs and hedgers are running for cover. Funds are long but the latest COT report indicated they were edging out of length as of one week ago. This week’s hog kill is projected to be another monster at 2.510 to 2.530 million. The size of the kill and record large production does not seem to matter with hams holding solid. The pork cutout was up .57 yesterday. The hog & pig report, despite the surging futures market, it not expected to show any contraction but instead slight expansion and confirmation of record large production coming down the pipe. Look for a higher early trade.

I am now a turtle, hiding under a rock on the bottom as I am so far under!!
I have no idea how high or how long this market will stay so strong! I am still short , short on everything!!!!!
Dewey