The obvious answer to the optimism is that demand for U.S. pork has been outstanding and that futures traders, evidently, are betting this will continue not only in the weeks ahead but in the months ahead.
USDA reports record productivity for U.S. hog producers. Consumer demands support a growing pork industry, but rising total meat and poultry production could create a stumbling block for the marketplace.
USDA Hogs and Pigs Report will be released Friday, as will the cold storage report. USDA will report November livestock slaughter on Thursday.
New report will feature regional and national average weight data for carcass and live hogs.
Values have moved up seasonally as they generally do this time of year, but is the inflection happening a bit earlier than normal and at a faster clip?
The combination of increased slaughter capacity and lower-than-expected hog numbers has been positive for hog prices this fall.
Our long-term interpretation is good for animal agriculture; our short-term focus should be in acquiring physical corn now.