Looking To Sell Hogs

Lean Hog Futures---The hog market in the July contract is trading lower by 215 points at 88.80 as prices hit a 2 week low after settling last Friday in Chicago at 93.00 down over 400 points for the trading week.

I will be looking at a bearish position if prices crack the May 13th low of 87.75 as the volatility is extremely high and that should continue throughout the summer months as prices look expensive especially with the trade war with China accelerating.

Hog prices are trading under their 20 & 100 day moving average as the trend is to the downside as we are right at major support as it will be interesting to see if that level is broken in next week's trade. Commodity markets in general still remain very weak and you have to remember hog prices in the month on February traded as low as 75 as there is still significant room to run to the downside.

I will be patient and wait for the breakout to occur as the trend at the current time is mixed and if you take a look at the daily chart the downtrend line remains intact as the livestock sector remains bearish as cattle prices look to head lower in my opinion as well.




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