Be Patient

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


Below is the final paragraph in the Livestock Comment section of my twice a day newsletter, Commodity Insite that was posted around 10:30 a.m. Chicago time.

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Move all stops on all December hogs down to $56.25, intra-day. The last is $55.55, down 120 points.

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And below are the short December hog positions that were stopped out as the oinkers rallied high enough to hit my stops. As a result, I am no longer short hogs for the first time in 3 weeks.

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OPEN POSITIONS 2018

**Sold (2) Dec. hog $58.45 and $59.00 June 6. Use $56.25 stop, intra-day.

** Sold (1) Dec. hog $60.40 June 13. Use $56.25 stop, intra-day.

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My lean is to sell hogs on any stiff rally. However, the lean hog index closed today at $85.79, a gain of $.65. With July futures now trading at $80.35, more than 500 points under the index, the upside for July and August hogs could be considerable. And since, hogs are hogs any further strength with summer month hogs could spark an equally stiff rally for the back month hogs.


I am bearish hogs but it seems prudent to take profits on short positions in hog futures and be patient. Also be patient with short August cattle from yesterday. Be patient.


The time is 12:57 p.m. Chicago


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