LEAN HOGS:

Watch my Two Minute Drill on Hog Futures here:https://youtu.be/_OhWTEQXOHg

Cash was lower again yesterday, call is down .50 to $1.00. Heat is coming and this is going to restrict hog movement and weight gains over the next week. Might this play as a factor in the cash hog performance next week? We believe it likely will support cash bids, perhaps preventing or at least stalling the slide in prices. The product performance and cutout continues to disappoint, quoted up .25 at $87.66. Today the USDA will release their quarterly hog & pig report. Look for confirmation of expansion which will also confirm record large production for next year. This is not a surprise to the board. Many times these report contain surprises. For this one, I dont even have a guess as to what it may be. Into expiration look for July hogs to continue to work higher. We are hedged (fall and winter) and will look to add to hedges on rallies into the seasonal high timing.

I am wondering if China will put the 88% tariff on pork next week?? In all my years of trading I have never dealt with anything like this!
Dewey