Last Friday I got an e-mail from my broker telling me he was worried about my short position in hogs. On Monday I decided to ease his mind some and got out of all my July which was 50 % of my position. He is not always right but I don't want to make him mad as he has helped me in the past. Yesterday I sold aug and oct in an amount to equal 1/2 of what I got out of on Monday so today was a good day for me! The following is some of what I got from him awhile ago, as you can see he is changing his bullishness!

What to Expect?
Hog futures are in a transition. We did an excellent job harvesting profits in the June on the way up. We might be stuck with our July 130 calls. I may be guilty of staying bullish too long. If we get a chance to liquidate our July calls, it should happen next week. After that, the seasonal top should be in place. The key question; is this a major top or just a corrective move before moving higher in the fall and/or next winter? I’m in the corrective move camp right now.