Today, Thursday, the quarterly Pigs and Hogs report will be released.
For many years, this report was known for causing large moves of the hog prices. Recently these reports conformed well with the estimates of the traders, and, thus, price moves were moderate. But you never know ...
Bst regards, Myrrdin
The following 4 users say Thank You to myrrdin for this post:
The report was neutral compared to trade expectations. Good news for traders holding short options. Option prices should move downwards due to reduced volatility.
Best regards, Myrrdin
The following 3 users say Thank You to myrrdin for this post:
In case you hold positions in the cattle market please be aware that on Friday, 21st of July, after the close the monthly Cattle on Feed Report and the semi-annual Cattle Report willl be published.
Best regards, Myrrdin
The following 4 users say Thank You to myrrdin for this post:
The CoF report was clearly negative regarding marketiings as well as placements. Fundamental data still suggests that we will see cash price at approx. $120 at expiry of August and October futures. It will be interesting to see if there is damage made to the charts, that will bring prices down below 111 in the short run.
Best regards, Myrrdin
The following 2 users say Thank You to myrrdin for this post:
Bear spreads in the hog market are doing well this year, as suggested by seasonal charts.
I hold the LHG8-LHV7 and the LHJ-LHZ for a while.
The first one should move upwards now according to seasonals, but I expect cash price coming further down, and the bear spread moving further upwards. (This spread also serves as a hedge for my LHG puts.)
The second one should move upwards according to seasonals until November.
Best regards, Myrrdin
The following user says Thank You to myrrdin for this post:
