The case for price bottoms being in place in US hog markets

It’s been a very rough period for the global swine industry. Rough waters still lie ahead. However, there are now early, but solid, technical clues that the hog futures market has put in a major price bottom.
calendar icon 1 May 2020
clock icon 5 minute read

US soybean cake and meal net sales of 163,600 MT for 2019/2020 were up 59 percent from the previous week and 13 percent from the prior four-week average. Increases primarily for Colombia (87,700 MT), Canada (44,000 MT), Honduras (9,600 MT), Jamaica (9,000 MT), and the Philippines (7,800 MT), were offset by reductions primarily for New Zealand (25,000 MT) and the Dominican Republic (3,200 MT). For 2020/2021, net sales of 60,100 MT were for unknown destinations (60,000 MT) and Canada (100 MT). Exports of 204,400 MT were down 39 percent from the previous week and 28 percent from the prior four-week average. The destinations were primarily to the Philippines (70,400 MT), Canada (21,300 MT), Mexico (20,100 MT), Honduras (19,000 MT), and Colombia (13,800 MT).

© Jim Wyckoff

© Jim Wyckoff

© Jim Wyckoff

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