Cash is called fully steady with a firm tone. Some mechanical problems yesterday will result in a larger Saturday effort. Packers still need hogs for late week delivery and the supply of butchers is getting tighter. Last weeks kill was revised downward by 5,000 and in combination with yesterdays kill of only 449,000 should work to clean up the product. What stands out to me is the strong performance of the bull hog spreads with the June contract gaining on everything. This tells me the cash is ready to move higher. This weeks kill is projected to come in at 2.332 million compared to 2.327 last week. A closer over 7560 in the June is necessary to trigger large buyers
Nothing new to report on my part!