The collapse of the US Cash Hog Market continued last week with 53–54 per cent lean hogs dropping 7¢ (64.19 to 57.66) or about $14 per head, writes Jim Long President – CEO Genesus Inc.
In the last four weeks, the US price has declined from 74¢ to 37¢ per pound or approximately $35 per head. A year ago, US lean hogs were 87¢ per pound or $85 per head higher.
We don’t believe any producer can make a profit at 57¢ lean. It’s not if you are making money or not, it’s how much you are losing. It’s a train wreck with the added problem it seems the price could go lower yet before it recovers. Thanksgiving and the extremely short slaughter week is never kind to hog prices. read more … http://bit.ly/1kFEEHl