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Hogs by Dennis Smith

Cash is called lower again today after another bloodletting yesterday. Cutout was stable so improved packer processing margins is coming right out of the producers pockets. The latest CME lean hog index stands at 5828 with Aug futures going off the board today at noon. Futures displayed another sharp rally yesterday which is a selling opportunity. The weekly kill is going to swell rather dramatically which is necessary to get hogs cleaned up. This weeks kill is projected at 2.449 million, or up 4.7% compared to last year. Short covering was the feature in futures yesterday with open interest dropping by 800 cars. Volume on the rally was not heavy at 52,000. Once again, recommend working orders to sell futures on a nice rally.

Good morning DH, Once again I am opposite the whole world it seems as I am long 4 different months in the hogs. Today will be last day for being long the august! Today they raised the margin on hogs, I am wondering if they are expecting fireworks to start happening, I don't see it but I miss a lot of things!!

DH, I believe your analysis of the hog market is ahead of most analysts and I do appreciate your forum!
Dewey

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Hogs by Dennis Smith
Thanks for you post, Dewey. You and I are - -