INFORMATION source is not nearly as good as Dennis'. The retailers have most likely filled their cases for the holiday trade and we are early for the Independence Day grill so there may be some softness to the index. With the MMMs pumped up to a significant premium over the component, we may see the mMMs give up a little. If that happens, most likely every other contract will follow hem down. I continue to think we are in the chase to find both the seasonality high and the next Hog Cycle "Crest".

The question is, "When?"

I continue to make a few calendar spread trades and hopefully they will cushion the fall in the out-right futures that I am riding.

Best wishes,

D.H.