today, Dewey. It appears to me that we are still in the chase for the "Crest" for this Hog Cycle so there may be more to come since the "Law of the Hog Cycle" has not been repealed. If exports motivate producers to over-expand and China gets rid of the backyard producers, replacing them with larger, more bio-secure facilities, the next "Trough" could be brutal. It will probably be down the road two to four years.

Best wishes,

dhm