AG SERVICES
201 Innsdale Terrace, Clovis, New Mexico
505-769-3300(March 16, 2000) HOGS: Lean hogs prices have seen some decent strength during the most recent rally. The overall picture looks like prices are still trading at extremely overbought levels on daily and weekly charts. Higher cash cattle and beef prices have helped to support pork over the last couple of weeks. Support levels around the $60.40 level basis the April lean hogs may be strong enough to catch any price breaks? Prices have penetrated overhead resistance at $61.50 and have begun to falter? Slaughter levels have risen to higher than expected levels, but analysts are now believe that the industry is becoming more current. This has helped to fuel the most recent rally we've seen over the last couple of weeks? Pork demand remains strong which may help to support prices as we get past March and into April. June lean hogs look like there's still potential to see prices around the $70.00 area before this rally is finished! Overall long-term trends are still up.
SHORT-TERM TRENDS--Topping around this level?
LONG-TERM TRENDS--Lower over near term, then higher?
Bryon Fillpot
Hosted by:
CONSENSUS, INC. AND INVESTORS
CO-OP
1737 McGee
Kansas City, MO 64108
(816) 471-3862