Lean Hogs

China looks to lower tariffs on imports as the critical date approaches. A 2.8 million head slaughter this week will likely limit upside

G-J struggles again above 6 cents. Lets take profit and buy a break

We expect the Dec contract to continue to chop this week. We will be looking for evidence of topping slaughter numbers to jump long Feb.

Dec contract fights with high pork production, limiting cash price advances. Feb and beyond remain strong as potential Asian demand supports

We like buying Feb selling April on this morning’s break

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.

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