Cash is called flat to lower for today with Friday typically not an important day for purchasing hogs and/or setting a tone in the cash. If the Friday/Sat kills come in as expected, 465 for Friday and 218 on Saturday, the weekly harvest will be very close to the early week projection of 2.515 million. What we’ve experienced this week is that demand is unable to keep up with this level of production, thus, lower product prices.
There are no changes evident today in the product from the recent trend. Barely steady is the early calls on most pork cuts. Cutout values are probing into ten year lows.
One news item has surfaced today that may be very significant. A report out of Taiwan indicates the COA (COUNCIL OF AGRICULTURE) has detected ASF in meat brought into Taiwan from Vietnam. This could mean that ASF has now crossed China’s southern border and is now present in Vietnam. There’s not been any statement or confirmation from the Vietnamese government. If this has occurred, Vietnam will have a most difficult time controlling the spread of this disease. Like China, pork is the staple in Vietnam. There are 11 million pigs in Vietnam.
Above is part of what I received this morning. DH, this is a Long tough Slog!!