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| A free iso will lose 5$ after Friday’s close. The euthanization that didn’t happen earlier is beginning to happen finally. We are backed up 2.5 million hogs. We killed 10.6% this week over year ago which equates to 260,000 more hogs killed for the week compared to year ago. Looks good right? Wrong, what people are forgetting is we increased the sow herd by 4% over year ago. So it’s gonna take all of 2020 to get caught up even at that rate. We are in for the worst loss of equity in history, yes it’s worse than 1998, the cfap money will keep us all hanging on awhile longer. Friend has a barn he leases to Smithfield and his 5 year lease was up, they called him about renewing and he mentioned how bad it was with people euthanizing pigs, the rep from Smithfield said they hadn’t had to euthanize any pigs. There is your answer, they are going to eliminate the independent pork producers on this cycle bottom. | |
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Hog report instead of another ethanol post
