Take a look at the charts and the Feb is completely different looking than is the April lean hog chart. Feb is solid as a rock and April looks poised to test major support. Slaughter has been aggressive this week with Monday at 466, Tues at 467 and yesterdays kill at 463,000. The product has been stable and, frankly, holding better than expected. Weekly pork export sales were good as reported this morning. On a trade below 7200 in the April we plan to begin accumulating calls. Longer term, look for continued strong demand for U.S. pork, when eventually combined with reduced seasonal supply, to likely sponsor an impressive uptrend.
I have been buying April hogs like Crazy & that may be my definition of Me!!! I had orders in before open to buy more from 71.60 to & incl 72.00 and I just canceled those orders however if they go down in the area of 71.00 to 71.50 I will probably be buying!