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505-769-3300(November 24, 1999) HOGS: Lean hogs shot up again this week when rumors that McDonalds made the statement that they were going to bring back their bacon burger? Technically, prices may have done about all that can be expected around these levels. Price targets basis the December lean hogs is around the $53.00 area. It seems like all the meats have been trying to trade together over the last week or so. Hogs may run into trouble as we get into December as seasonal and technical pressure slow the upward advance? Anyone holding long positions should be careful over the next few days.
SHORT-TERM TREND--Higher into next week.
LONG-TERM TREND--Weekly charts are up.
Bryon Fillpot