Weekly Purcell Report

Weekly Purcell Agricultural Commodity Market Report Wayne D. Purcell Agricultural and Applied Economics Virginia Tech

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Cash hogs are coming into the week a bit higher with the weighted average price on a carcass basis moving back up around $47.

In the lean hogs, I would suggest selling any rally of $2.50-$3 per cwt. from current trading levels.

There is resistance on the April just above $53, and we have comparable resistance compared to current trading levels on the later contracts such as the July near $62 across the mid-March highs.

I would sell the late spring and summer contracts aggressively if the July can, in fact, mount a $3 rally from current levels and approach the highs just below $62.