Hog markets broke into the weekend on weaker cash, high slaughter and heavy weights. We look for this trend to continue. Sell rallies in Z.
The Swine Times
Summer contracts took it on the chin as cash was supportive the front of the curve.We will look to buy Z or G-J spreads on breaks, next week
Hog futures broke last week while cash rallied.China continues to be the bullish theme,countered by a bearish outlook from massive slaughter
We caught a very nice move on the open yesterday, Z shorts are profitable by 3.00. We are going to cover ahead of tomorrows exports
Back to back weeks of massive slaughters should put pressure on bellies and Dec futures. We want to sell.
Dynamics will likely change early next week with a frost in icy US-China relations scored Friday. Is this really over? Or just intermission
The Chinese visit to Washington will dominate the trade toward the end of the week. Look to cover bear spread action in Dec,early this week
Hog futures are rallying with Japanese and Chinese trade in mind. Futures need continued positive given record (growing) US supply seen Friday
Hogs saw support all week from another ASF case, but could not hold up as specs liquidate after another trade setback.
Hog futures rallied substantially last week, cash did not.We look for a near term high to be made this week in V and Z if bullish news slows