MURICO.com Forum

Hogs by Dennis Smith

Cash hog prices were down $1.00 yesterday and expected to be lower again today. The lean hog index should continue to work downward after having just peaked. The latest index stands at 6895. Dec futures are 400 under. Clearly, the futures market is predicting additional weakness in the cash arena. Weakness in the bull spreads is a negative signal as well as the settlement well below 6500 yesterday in the Dec. Downside follow through is expected. The summer contracts reside at contract highs. Again, were not expecting that to continue but rather an abrupt about face more likely. Look for selling in the Dec on todays open. Volume yesterday was moderate at 43,700 with open interest down slightly. Wow, are the funds done buying and adding to their length in the hogs? NAFTA talks resume in Mexico City on Nov 17th and so far theyve not gone well. Take a look at what the Mexico Peso has done since the middle of Sep.

Still Short Dec & Feb with a lot of Length!

Dewey

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Hogs by Dennis Smith
Thanks for the post, Dewey. Now that - - -