The early call on cash hogs is steady to possibly slightly lower. Myself, Im expecting a higher cash market at the end of the day. Why? Because we appear to be missing hogs and Ive not found any one that can explain the discrepancy. The weekly kill since early Sep is running nearly 2% below last year. The hog & pig report indicated supplies of butchers during this period should be up 3.5%. It appears hogs were pulled ahead both before and after hurricane Florence. Now, on the backside of the hurricane, where are the hogs? Hogs that were backed up by Smithfield and why are we now running, for two consecutive weeks, a hog kill lower than last year? Look for futures to move higher as this get sorted out. China admitted today that the ASF outbreak remains complex and severe and prevention and control efforts are in a pivotal period. Three new cases were reported yesterday. Seaboard/Triumph is starting their second shift, killing a few pigs to get workers accustomed. Theyll slowly expand the kill. Based upon the bullish chart pattern and based upon the short fall in hogs Id look for a higher performance today.

So far Dennis is not doing very well today!

I have been making some trades from the short & long side but today decided to start a long position. I have been buying summer, April, June, and July. This could turn out to be a bummer, only time will tell!

Dewey