Cash is called higher, perhaps up $2.00 for today. Yesterdays cash was up mostly $2.00 to $2.50. The pork cutout is now priced above $80.00. Impressive stuff. Futures staged a second day of correction in the wake of Fridays huge wave of selling off the contact highs. Today should mark the end of the correction. The cat is finally out of the bag. Reports today are confirming that China is committed to import a huge amount of U.S. pork this year. The numbers are staggering with 300,000 MT being discussed. This would be an increase of 80% compared to what they imported in 2017, or the pre-tariff trade. The spin on the story is that its a direct effort to solve the trade war. This is pure B.S. (pardon my French) theyre buying this amount of pork because they NEED THE PORK. China will only buy what they need. (By the way they dont need soybeans). I actually expect they will likely import more than this quantity. In addition, keep in mind theyre likely forging similar agreements with the EU. In other works, the world price is pork (and beef too for that matter) is going higher. Look for the rally in lean hog futures to resume today.

Good morning DH, and Thanks for your info. I said earlier I was going to hold position but I have gone over what I thought I would! I have been buying Oct & Dec and June hasn't gone up enough for me to get out of it. I have reduced it considerably however still holding 20 in June. My target for June is 98.50.

Dennis is so excited he went into his office on Sunday. I got an e-mail from him at 9:30 in morning!

DH, I have been wondering about Itz, hoping he got all of his Hedgers out of the hogs before they went crazy!

Dewey