Hog Prices Sharply Higher

Lean Hog Futures---Hog futures in the October contract is trading higher for the 4th consecutive session up another 200 points at 77.30 as prices are right near a 4 week high. If you have been following any of my previous blogs you understand that I have been looking at a bullish position, however prices gapped higher today as I think that will be filled in the coming days ahead.

If you take a look at the daily chart the downtrend line has finally been broken and it looks to me that the trend is turning higher as prices are now trading above their 20 day but still below their 100 day moving average which stands around the 80.42 level.

I will keep a close eye on a possible bullish position in the coming weeks ahead, however the risk on this trade is around $4,000 as that is way too much money at this time, but I do think prices have bottomed out.

Volatility in hogs certainly has increased over the last several weeks as prices have rallied about 1000 points during that time frame as I think the volatility will remain extremely high throughout the summer months.

TREND: MIXED

CHART STRUCTURE: POOR

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.