What to Expect?
While China was absent last week they have a large amount of pork sales outstanding. In addition, they were the largest shipper of pork, taking in 12,500 MT of the total 38,600 MT shipped. It appears someone actually believes China will stay out of our export market. The limit down is difficult to explain especially in terms of where April went off the board (10340) and in terms of where the carcass is priced (between 110-115). July hogs closed 100 under the April expiration. Supplies between now and July are not going to increase. So, someone with lots of money believes that demand is going into the dumpster. “Not I” said the livestock analyst from Archer Financial Services.

The above is part of what I received from my broker a few minutes ago! Today I bt several M & Q hogs along with some cattle. If the hogs & cattle will get a fire under them like the soy oil I will be in tall cotton!

Dewey