Hello Hog Traders
We caught a nice 3.00+ move over the last 27 hours, given the volatility we are going to take profit and try to sell a bounce. USDA exports have been a bullish driver, I think the odds are pretty good the numbers will be high tomorrow. If it gets back above 70, you can expect to hear from us again.
BUY 1 UNIT OF DEC HOGS
You should be flat the board.
On a side note, the Chinese ag ministry made some comments last night about their hog herd supplies are bottoming and production will return to previous levels in 2020. That seems unlikely from where we sit, but for now the back of the curve is falling. April and summer hog contracts are too high without a major supply problem.
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