Posted 10/16/2020 22:48 (#8549636 - in reply to #8549331) Subject: RE: Explain how this could be please
That is the way it works. You are spot on. Eventually they get cought when the weather doesn't cooperate. Last year the numbers were skewed because of all of the pp. Low test weight came into play along with the China flu shutting down slaughter plants so the feed use was higher. They still thought they could push it off until the next year and average the cary out until the demand picked up because of the trade deal with china. Now they are cought with their pants down and have to revise numbers. If china keeps buying they will be pushed into a corner and have to revise again and we will see prices not seen since the good years.