Cash is called steady. Packers, obviously, are trying to slow down the advance in cash hog prices in an effort to recoup lost margin. My sources indicate that three plants will be dark on Friday, restricting the kill by just over 50,000 pigs. The weekly projection is coming in at 2.480 million pigs, shy of last weeks harvest of 2.504. If China is in the market as we suspect, cutout values should continue to crank higher. The weekly appreciation in the hog carcass, since the week ending March 9th, has been $3.12, $3.85, $8.90, and up $3.54 last week. Yesterdays cutout was up .82. Also yesterday open interest fell out of the April and June hogs with total OI down 2,900. A SEASONAL LOW IS DUE NOW. Perhaps it was established yesterday. This is one of those days in which you expect, you hope that the trend simply reasserts itself. So I have few expectations and Im fully willing to let the market do the talking. Theres no fresh news on Trumps threat to close the Mexican border and no fresh news regarding the China/U.S. trade negotiations. Again, simply let the market figure it out.
Good morning DH, Soo far it is a good morning for me and trust it is for you also!
If anyone has any questions about the border, feel free to ask me as I live on border, have been here 40 years.