Good afternoon everyone
If you are signed up for the newsletter alerts, you should have seen our recommendation to sell Oct hogs at 62 cents. We were filled on this recommendation around noon today.
In our Monday morning weekly commentary we spoke of how we anticipated cash hog prices to trend lower if we saw pork product values trend lower. In this morning’s USDA update, the Pork Carcass Cutout values were reported down $1.10 with the national base hog carcass price down $1.04. We sold another unit of October Lean Hogs in today’s session. So far is is off to a good start with a close around 61.15. We now currently hold the following positions:
Short 2 October Lean Hogs (one as a part of the spread, one outright sold today)
Long 1 February Lean Hog
Please call the desk if you have any questions. We are happy to answer any questions.
Livestock Futures and Options to Hedging
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