showing bellies had tanked, I knew I had made a stupid mistake when I covered 1/3 of the short MMMs I had been riding down. I got a little too anxious for the Independence Day rally to kick in. I still think it will happen but we may have a limit down day or two first.

I am not long the NNNs and I do NOT intend to go with Judy's long NNN trade. I think it may take a bit more time for the China problem to begin pushing hogs higher so I am mostly long the summer 2020 futures..

Best wishes,

D.H.