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Cattle on sale.
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Kooiker
Posted 6/21/2017 22:36 (#6083358 - in reply to #6082706)
Subject: RE: Cattle on sale.



Bigalbert2332 - 6/21/2017 16:24 @kooiker- the hog board is so much closer to cash than the cattle are it isn't even debatable.




Yes, the CME hog prices are close to cash during the months of June, July and August.

Anytime other than the "summer months" it isn't uncommon to see -$10 to -$15 basis in the hog market, which is a huge % of the price when you're talking a price range of $50-$80



That "CME number" is a two day average of the USDA prior day Direct Hog report.

The USDA report does NOT contain "every hog killed the day prior" in the US.  

Lots of hogs do not get the price reported "due to confidentiality", the packers do the reporting....      Do you believe they report the whole truth and nothing but the truth?     I don't.


At best the number of hogs killed is accurate, maybe.



And I'm 100% positive you don't understand how the cash hog "market" functions.    If you did, you would agree that it isn't much of a market.     Less than 2% of the hogs sold/bought in this country set the price for the rest.








Edited by Kooiker 6/21/2017 22:42
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