Hogs & Pigs Report Tomorrow

June 25th, 2009 Posted in Uncategorized

At 2pm Chicago time the USDA will publish it's Quarterly Hogs and Pigs Report. Here are the estimates, compliments of the most excellent source of information which is Informa:

Note that the numbers published tomorrow by the USDA were based on a survey done in May, for expectations for June 1. Since, June has been an unkind month to the pork market - so we'll have to adjust expectations relative to the market conditions that ensued since the data for this report was compiled.

The bear spread in the hogs held steady today after yesterday's strong recovery. Care must be taken to protect gains ahead of this report, just in case something unusual happens.

Crops appear to be progressing decently, per the market weakness. Wheat harvest, too, must be moving along steady enough as both Chicago and KC wheat again pushed into new swing lows.

Bob

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