Only Long Hogs

Jerry Welch, Commodity Insite!
Call me at 406 -682 -5010
Ennis, Montana 59729

Follow me on twitter@commodityinsite

This afternoons USDA report was not a bearish surprise as I forecast but there was also little in the data that was bullish. Based on the data and in the absence of crop problems in the US or South America, my lean is to sell rallies with all grains rather than buy breaks.

My lean towards cattle is also that of a bear. I would rather sell rallies than buy breaks. And this afternoon with only a short time left to trade, cattle futures are 200 lower for June futures and 300 lower for some back month feeders. It is one bearish day.


However, I did broadcast the following Special Email Alert to my subscribers and brokerage clients earlier today. Here is what I suggested:

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SPECIAL EMAIL ALERT!


Buy (1) April lean hog at the market. The last is $67.37. Use $66.50 stop, close only.

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With the Fed hiking rates and the Trump Administration about to levy tariffs a trade war across the globe may unfold. Thus, I shy from the long side of most markets. I have little desire to be long much of anything.


However, I am now long front months hogs and trying to sit tight and see what tomorrow brings. April hogs are now on the plus and trading at $68.00.

The critter complex is about to close as the time is 1:03 p.m. Chicago

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