Hello DH, My day didn't go like I planned, I sold Aug & Oct on the close today! If you can get 3 or 4 days like today you will be setting pretty!
I will just list some stats & comments I have read at end of day.
Bellies remain tight. Today the WSJ featured a bullish bacon story (in the past when the journal printed an article about bacon it had already made it's move), today may be different. Hams are turning soft with Canadian product showing up, loins are narrow with butts & ribs offered. Closing pork showed the cutout down .29 at 104.19. The late cash showed prices down .50
August hogs looks to have support (major) at 78.00. Resistance between 81.00 and 82.00
Tomorrow I plan on selling more Aug & Oct. Hogs are definitely in a transition stage however, supplies should be increasing with demand topping (famous last words)!!!
Dewey