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ALLENDALE, INC.
4506 Prime Parkway,
McHenry, Illinois

(June 6, 1997) HOGS: Cash markets mostly lower as packers backed off on bids finding all they needed at lower prices. Futures started slightly lower, tried to recover and ended down making new daily lows on the close. July futures end up for the week in a technical correction from last weeks down trend continuation. The correction completed a 50% retracement which was met with technical selling. We sold futures today and look for lower prices next week if cash continues to head lower. The market is trying to find a comfort range until more news of demand to lift prices or signs of packer slowdown to keep the market on the defensive. Major support in futures is at 7905 in July.

Bill Biedermann

Consensus National Futures and Financial On Line Index
Livestock Index

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