MURICO.com Forum

The CME Lean Hog Index component on the kill for -

8/15/18 kill was down -099 to 53.73 . The VVVs are now locked limit up at 54.475 putting them premium to the component by +0.74. I cannot explain this limit move except to say that "The Market" must think exports are going to mushroom.

The sis-day moving average carcass weight moved up to 208.40#. That is +1.16# yr/yr. This suggests there is going to be plenty of pork coming to market. Index hogs were also heavier at 208.39#.

I am still HODLing the summer futures looking for a ten-point pop from my entry. Today has me thinking that is not an unrealistic goal.

On 4/1/18 the CME Lean Hog Index hit 52.97. Today "The Market" may be saying that WAS the low for this Hog Cycle and what we are doing now is looking for the seasonality low for this fall's season. I just don't know.

Best wishes,

dhm