there is a significant "Gap" like we have now and the seasonal tendency is for the price of hogs to go "UP" in the spring, it tests my emotions to put my trust in the model and stay short but I have been well paid for doing what the model says. Earlier this year it had me long and that worked and then the market dynamics changed and I reversed.

I'm carefully watching to see when/if we get another reversal.

Making these posts is an exercise in self-discipline. I find my trading goes better if I study the market carefully enough to make these posts.

I hope the best for your hedgers. Goodness knows that hog producers face plenty of challenges.

Best wishes,

dhm