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SW WI | I read a few different commentaries and what I'm getting out of them is pretty much a mixed bag. Product movement is very good but we are running some good numbers for the kill. Then again cutout price is good but for fall the tug of war between large supply with more packing capacity starting up. So you can see the back and forth.
The June contract has me equally leaning both ways. It has a substantial premium to cash, right now. Has bumped at the 80 mark here lately. Less than a month to expiration and of course things could come in line by then. Typical premium might be around $5-$6? One of the charts I've been looking at sort of looked like a work toward the 74 mark, which would line up really well for what conditions are now. But like I said, still time until it expires and as usual, a fluid situation. Commentaries had similar thoughts, saying possible break out to the upside but yet he was selling near 81 on the June. Doesn't make sense to me.
Any chart guys want to see, if you see anything that catches your eye? Thanks.
Edited by mikado 5/24/2017 17:02
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Hogs?....Anyone?
