Hello DH, and Thanks for your continuing sharing of your hog data. I don't know when this downtrend will end but the gaps have now been filled, hopefully now they will move up. Following is some of what I got from Dennis

The talk is that packers will once again ease back on the cash late this week as next week is a short kill week. Again, profit margins do not appear to have any bearing on the matter. Collusion. Eventually hog numbers and hog weights will peak and packers will then begin raising cash bids. Futures, since attempting an upside breakout last Wednesday, have given up a ton of premium. Feb hogs broke 860 points from the Wed session high.

ASF continues to spread in China regardless of what the government says. I’ve learned that last week, when new cases were reported, some of these were in large, bio-secure, repopulated facilities. I’m also hearing that producers are still liquidating sows soon as the pigs are weaned. We’ve also noticed that China is no longer providing herd data. They continue to hide the real situation, the extent of the damage. I read a report on Spain today. They contracted ASF in the 1960’s. It took Spain 35 years to successfully eradicate this disease. The Chinese say they’re going to turn it around in less than two. Our investing strategy of bull call spreads is valid and the only way to position for the eventual upward price explosion. The next seasonal high is due at the end of Nov. Sounds crazy but we still might surge upward into this timeframe. Most likely today’s lows will be good for the long term.