Cash hog prices are expected to remain sloppy to lower into the holiday and into next week. Packers are already filling spaces for next week. I'd be very surprised to see any strength in cash bids over the next week. Having said that, it is very cold out west for moving animals which could cause some short term bids to surface. Overall, unless the weather gets even tougher, look for lower cash into the New Year. Hog futures have had little price movement since the release of the hog & pig report. Technically, it appears we're forming a base of support. I'd expect the market to jab downward at least once to test support and run some sell stops. The hog & pig was
bearish over the long term as it confirmed widespread expansion. Support in the Feb hogs should be evident at 8000. Repeating, look for this level to be tested after the New Year. Product appears to remain heavy and discounted in most cases. If there's an exception it would be in the pork butts. Most other cuts look weak. The bear spread which we're holding, long June and short Feb, is working nicely.

Dennis is not very friendly the hog market right now!
Dewey