MURICO.com Forum

Hogs

I got out of all my hog trades today as I just got nervous! Following is part of what I just received from my broker

What to Expect?
Weekly sales were sluggish but shipments remain excellent. The kill is running well behind last week (163k lower). Numbers are not there. The proof is in the product and the product is rising daily. Pork has moved from cheap to no longer cheap. However, U.S. pork is going to remain expensive for months. Reduced and lower production is being greeted by rising demand. Domestic demand is being fueled by food service re-stocking, stimulus money, the easing of COVID restrictions, massive savings rates over the last year and 350 million people that want to get back to normal. Export demand is being driven by a widespread problem in Asia; African Swine Fever. I’ve been discussing the reasons for lower production for weeks.