The cash was strong yesterday, mostly $1.50 higher as packers compete for butcher hog supplies amid profitable margins, rising wholesale carcass values and slightly declining numbers. Futures posted a strong performance and technically confirmed the move with new high settlements across the board. Volume was good at just over 41,000 with open interest increasing by over 3,600 cars. Open interest was higher in every hog contract with the exception of the soon to expire Feb. Technically bullish….fundamentally bullish. My final upside target in the Feb is 7200. It’s been an impressive rally and we’ve been harvesting calls on the move. Look for upside follow through today. We own April calls and we’re spec long June futures.

DH, everything is up again today- cash, cutouts and futures! I don't own any GGG's but have a few JJJ's and MMM's, sorry to say they are on the short side!

Dewey