Special Pork Report
Thursday, March 25, 1999
The All Important Quarterly Pig Crop will issued Friday after the Close
Our estimates are :
All Hogs and pigs at 98
Kept for breeding at 93
Kept for Marketing at 100
FuturesCom's desire is to enter the report, keeping the recommended
Short April hogs. In addition we recommend:
Long Oct. Hogs, Long June Hogs and as a Spread
Long July Hogs Short July Bellies .
We may be putting our ass on the line so to speak but that's the way we feel. Well-heeled traders should assume those positions.
These reports can and have caused drastic moves in the Pork market.
So be careful and watch your margins, in any event a traders should be prepared for a limit move in either direction.
Stay Tuned for a possible update during Friday's session.
I recommend BW Traders assume a long Posture of 2 Oct hogs for the pull so to speak and long 2 June looking for a target of 60 Cents on June.
Thursday June Hogs settled at 5535 and Oct. Hogs settled at 5470.
In addition I recommend BW traders assume 2 Long July hogs Short 2 july Bellies.... July hogs closed at 5610 , July Bellies closed at 5687 thursday
BW Traders Who have ice water running through their veins can enter on the opening for all positions.
Those Traders who want to select a price after the opening should look for
MC Flashes to enter during the trading session.
The Morning Comments will assume 1 lot postions during the session if able. Stay Tune for flashes.
Note: Premier Traders will receive a flash on price and quantity on all of the above before the close tommorow.
Remember Going into a report like this with a position is not for Widows and Orphans so be careful and don't over trade !
Copyright 1999 FuturesCom Investment Publications