Good weekend to all, This morning I was reading some comments from Dennis Smith. As you recall he has been very optimistic the hog market and was positioned from the long side in april & June. He got stopped out and I will quote some of his thoughts I read.

Hog futures came roaring back after falling out of bed on Wed & Thur. One gap was filled. The first gap, just above 70.00, most likely will not get filled. It appears the market failed this week out of fear and concern regarding policies toward our trading partners and due to the immigration policy. What happened in futures is not a supply factor. Conclusion is the futures market is adjusting demand (exports) downward. Brute force and tough talk with our largest trading partners, the market is telling us, is likely going to be a disaster. This is the opinion of the market. The summer hogs are trading discount to cash. April futures are 900 under. This Is Not Normal.
Severe technical damage was sustained this week. This indicates the seasonal tops are in place. A downside measurement to 64.00 is now in play. Solid support won't surface until 62.00. June futures will likely drop to between 72.00-73.00. Recommend to position accordingly.

For those of you that don't know - I live on the border about 10 miles from Mexico and hear a lot of things that the rest of the country does not hear about. The meeting with Mexico this week did not go very well! The Mexican President said they would gladly welcome all of their citizens back but the U.S. should deport all other citizens to their home country not to Mexico If an import tax is put on Mexican goods coming into the U.S. they will impose like tax on U.S. goods going to Mexico. If we have a trade war it will cost me millions of dollars in lost business. Hopefully I am seeing this with shaded lens!! Our business depends on the national economy. We have just finished 7 of the best years in business, however it is not looking as rosy the next few years if we continue as we are with the rest of the world.

Dewey