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| Looking at several things.
1) funds are loaded with longs
2) hedgers are mostly in but could see more selling
3) I feel the supply situation will be tight through July
4) continue to be bothered by 'where are the sows?' all this announced liquidation has not shown up at the packer level
My view is the market is vulnerable in the short run......but am not convinced the overall bull is yet dead.
If the report is disappointing & we run in the rest of the hedgers.... & run out some of the funds, then I feel we could enjoy one more buying opportunity.....if the report is astoundingly bullish....then may want to wait for a sell if we run in shorts immediately.....the market may be fighting a stronger dollar this coming year....
bottom line: I just want a true grip on the size of this breeding herd & the December report is often used to 'even the numbers up.'
Edited by SeniorCitizen 12/30/2009 10:20
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PIGS
