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Dennis Smith on Muck Rack

Dennis Smith

Verified
Chicago
As seen in: Wiley Online Library, PR Newswire, ACS Publications, Gartner, Daily Business Review, Cincinnati Enquirer, Anchorage Daily News, BW Businessworld, WFMZ-TV (Allentown, PA), WatchUSeek.com and
Commodity broker/livestock analyst for over 34 years. Publishes evening livestock wire followed widely by the industry. DM for a free trial.
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Articles

Trouble ahead for hog futures

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By Dennis Smith Verified
| National Hog Farmer Verified
The summer seasonal high in cash, cutout and futures is in place. Last week was a rough week with the hog carcass lower every day, losing more than $4 during the week. Hams clearly topped out along with bellies, loins and butts. Futures took a nose dive but appear ready to try and bounce, recouping part of the losses this week. The seasonal low is now due in late August or early September. But it appears like it's going to be a rough fall for hog prices.
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Lean hog futures: Higher or lower from here?

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By Dennis Smith Verified
| National Hog Farmer Verified
Hog futures remain locked in a downtrend with front month July recently hovering between the contract low at $92.50 and near term resistance at $94.50. The CME lean hog index has been priced between $90 and $92 for weeks. The premium structured futures market has been eroding toward the index all spring and summer. The fund managers have flipped from a net long to a net short. The most recent data shows the funds net short just over 27,000 hog contracts. Where do we go from here?
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No bull in the hogs

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By Dennis Smith Verified
| National Hog Farmer Verified
The bullish trade in lean hog futures is completely missing. The current seasonal tendencies are bullish but futures remain locked in a down trend. The cash seasonal is higher. Cash is stuck going sideways with no urgency noted by packer bids. The product seasonal tendencies are bullish at this time of year. The cutout is still trading below $100 with no urgency noted in hams and bellies. Funds have just flipped from being net long futures to net short futures.
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