The rocket has been launched and cleared the pad, headed into the atmosphere. The fuel for this rocket is China. We’ve been talking about this, waiting for this since August. The first upside target in the summer hogs is 120. We provided that target last August as well.

The story today was wrapped up in the weekly export sales report. It showed massive pork export sales to the tune of 50,300 MT with the Chinese taking 23,800 MT. In other words, last week China purchased almost as much pork as all the rest of our export customers combined. This is for real, this is not a onetime purchase. This is the magnitude of the demand coming at our pork market. Look for Vietnam to start coming into our market as well.

Closer to home, packers are making money and now this major uptick in demand will force them to be more aggressive, much more aggressive in buying butcher hogs. Two weeks from today the USDA will release their quarterly hog & pig report. Producers lost money during all of Dec, Jan and Feb. What if this report actually shows an end to the expansion? Recommend holding all long calls.

DH, this is part of what I received from Dennis this afternoon. He believes hogs are just getting started. I don't have any idea when I will push the Sell button again. Hightower is also very Bullish the hogs.

Dennis doesn't seem to be nervous or worrying about my account now!
Dewey