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The swine scheduled for delivery report - - -

shows that packers have 17K more hogs scheduled today than they had on this date last week. I think that is a fairly strong number considering the fact that next week is a holiday week.

From the noon reports it appears that packers are holding their bids steady. With these steady bids they were able to get a solid purchase of Index Hogs. From this I conclude that producers are quite willing sellers. I would probably do the same thing if I were a producer but I would not be as willing to sell as I would have been a few weeks ago. I'm suspecting there is a reasonable chance that hogs are going to be steady to up a little as we move toward the ZZZs going to cash settlement.

When the LEG5/HEG5 spread eased up to 82.10, I took a bravery pill and sold two more to keep my scaling program in place. I saw where somebody (or bodies) sold 78 @ 82.00. With numbers like that, I'm wondering if Dewey has decided to diversify into cattle. It just seems to me like there will be some consumers opt for nearly two pounds of pork rather than just one pound of beef.

So far the market is not punishing me for that decision but it might before the day is over or else on Monday.

Best wishes,

dhm

Messages In This Thread

The swine scheduled for delivery report - - -
Re: The swine scheduled for delivery report - - -
Re: The swine scheduled for delivery report - - -
Don't let the settlement pricesl - - -
Re: Ed, my early projections for June,