Weekly exports data comes out tomorrow and well get fully caught up on the export data with this dump of information. Regarding headlines, what a difference a day makes. The headlines are full of positive talk regarding the trade negotiations with China. It appears that major headway is being hammered out. Will this change the current sour attitude in the hog market? Futures have collapsed this week and have been led downward by the April contract. April, June and July hogs have filled the gaps left from last August when ASF hit. Aug, Oct, and Dec have not filled these gaps. Volume on the second day of collapse yesterday was very large at 80,800 with open interest down less than 200 contracts. Funds are pressing hard, however, and rising OI in the Apr (up 2,700) confirms this. Options volume was also huge. Weekly support stands at 5000. Odds favor a bottom by the end of the week, perhaps today. Another case of ASF was reported in China in Yunnan province. This was one of the first provinces to experience an outbreak late last summer. ASF has been confirmed in 27 out of 34 provinces in China.
My comments on the hogs are they are Wild! They may have effected my B/P as the Dr put me on another pill when I saw him the other day. If I had not got broken in on pork years ago trading bellies, I might not be able to stand it!!
I surely will be glad when hogs are profitable again for the growers as DH & Dewey will also be profitable!