Good morning Tim, following is what I just received from my broker. I guess we are all giving up on the hog market!

Cash is called flat. Dismal action. Product is weak, experiencing push back according to my sources. Yet production is coming in well below projections. Packers are fighting this market tooth and nail. They don’t want to bid cash higher. We’re pretty much out of the hog market with the exception of long calls which we’ll take into expiration. We’re holding most of our long futures that we’ve protected with long puts. The rec for several weeks has been to trade corn and cattle instead of hogs.