Lean Hogs

Quote from Buy1Sell2:

Purchase Auggie Hoggie futures yesterday at .7425. Longer term swing idea here--:)
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This idea is not working yet. I will most likely cut my losses short today and look for a better entry.
 
lean hogs ...bearish ...expect front end to reach 58 by Dec.
from which a new bull move should start. tech. reason wave C
of ABC flat just under way. Funnymentals are large daily kills
and expectations for large numbers of feeder pigs from Canada
will be marketed late this year. Will overpower demand which is expected to remain strong. New bull mkt. will reach historic highs.
 
Anybody looking at a short in oct lean hogs here? Market is in big time over bought area and looks to be topping out with selling coming in around 73. With huge slaughter and slow exports packers don't need to up there bids at all. With the added imports from canada U.S. slaughter could easily average 2-2.5% more than last year through the rest of 2007. This could mean trouble for the 4th quarter because the packing industry operated close to full capacity last fall. Not to mention the huge seasonality of declining hog prices in late july till the end of aug.
 
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