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Tough Week for Lean Hogs – Futures
Lean hog futures plummeted last week as traders kicked the crap out of summer futures in the $20 per head range. Interesting that cash hogs lost ground but not nearly at the rate of lean hog futures. Iowa-Minnesota Friday was 1.0672 a lb. This is the opinion expressed by Jim Long in his regular report.
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Recent observations on pig farming in the U.S., Europe, and China
Last week the “who’s calling whom” scenario came more into play. Packers were looking for hogs. As hog numbers continue to decline the calling will become more frequent.
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