I was looking for off of 79.00 for July hogs. That part was Reality and since I don't like passing on a nice profit, I put it in the Bank when it hit my 77.50 potential support target. I'm ready and willing to jump on it again if it sets up the desired opportunity. My hedgers are in it for the duration or until their break even stops are hit.
I started building my cattle/hog spread for the 3rd time last week but went with the short June cattle @ 121.00 and now waiting to see if the June hogs will prove the Wash Out Hallucination correct with a bottom retest attempt. I would like to see my 73.00 target happen but I'm still arguing with myself over 72.50 or 73.00. I may even find myself in trouble on the June cattle because I have some hedgers waiting for 122.00-122.50 area for their last 25% that still has a good chance of happening.