Cash hog prices, yesterday, were mostly unchanged on very light receipts. Hog slaughter was only 300,000 with several plants dark on Easter Monday. The question is; will the downturn in production result in a nice jump in the value of the pork carcass by the end of the week? We suspect that yes, it will. The closing pork report showed the cutout edging higher by .38 yesterday, bringing the value of the cutout back toward $75.00. This week’s kill is projected to be 2.269 million, up slightly from last week but up only 1.6% from last year. Packer margins remain highly profitable. As numbers decline, eventually, look for cash to bottom. The July and Aug hog contracts have a nice looking (possibly) head and shoulders bottom formation. June hogs need to post a close over 7450 to give this co
ntract the look and feel of a bottom.

Just bt 3 more June @71.50, may never buy any more!!

I am out of office this week but have laptop with me.

Dewey