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Re: The CME Lean Hog Index component on the kill f

Good morning DH, If you get my message amidst all that you are doing, I just wanted to say Good luck on your move! I have a sister & Bro-in-law that may be in Phoenix area later in winter. If I go visit them I will look you up also!

Still long futures and not doing any good this week. Following are comments from Dennis this morning

Cash was down .50 to .75 yesterday and bids are expected to be down $1.00 today. Supply suddenly appears to be the challenge with this weeks kill projected to come in at 2.553 million pigs. This kill would be up about 3.5% which is exactly as projected on the recent quarterly hog & pig report. Weekly pork exports were released this morning with sales at 20,800 MT, up 1% from the 4-week average. Shipments were strong at 25,700 MT, up 21%. Hog futures are pressing hard with the Dec dropping dramatically from the 5800 level challenged earlier this week. This level, 5800, is the line in the sand. Consider the prospect that were likely pressing the lower end of the range. Were also sharply discount to the CME lean hog index which has topped, perhaps, but its also not dropping like a stone. The latest index was quoted at 6817, down 42.

Dewey

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