September marks the start of the school year and Federal purchases, plus demand surge with Christmas hams will help to push Lean Hog prices up.
According to last week's CFTC data, hedge funds have increased net long position by 4199 contracts or 36%.
Price had rebounded from the support level of 68.00.
My proprietory trading system had signal BUY for Lean Hog.
Bought 1 lot of Lean Hog Dec08 at 69.50
Stop level at 67.80
Target level at 73.00
Value of $1 is US$400