Once again, market watchers are being reminded why they call them "futures."
A trading instrument called "yesterdays" or "nows" might be more deliberate, more vulnerable to common sense, less emotional and volatile. What fun would that be?
The defensive performance of the lean hog pit this week is the reason for my disgust (not surprise, just disgust). New spot August closed 127.07, 500 points below its contract high set on June 30, in a strange way victimized by the accuracy of its own bullish rhetoric.
For nearly half of year, bulls have been stoking the fire in the lean pit ...