Cash hog prices were down .50 yesterday with the product breaking $80.00 for the first time in several weeks. Lower prices for pork will continue to attract strong demand which has been the case in this market for months. The cold storage report indicated that only 2.2 million pounds of bellies were placed into the freezer during February. Belly stocks at 16.1 million pounds is a drop in the bucket compared to year ago stocks (down 74%). The seasonal tendency is for hog numbers and production to begin dropping off. As production declines, belly demand moving into summer increases. Whether it happens now or later, eventually, belly prices are very likely headed higher to sharply higher. All pork cuts should attract demand at these price levels ahead of a down turn in production. All pork cuts are sitting at stock levels below last year with the exception of hams. Look for support in futures near yesterday’s settlements. We’re accumulating summer hog calls.

DH, I must be in the Nuts crowd, I am past being confused! I still have a few short april left and have several June on the long side!
Dewey