Lowest Exports in Decade Brushed-Off by Hog Futures

For five years now, there has been a global high inventory of pork with no balance yet in sight.  Although domestic pork exports are down the most in a decade, US hog farmers are set to produce yet another record amount pork.

The USDA estimates a record 10.66M metric tons meat not seen in over 40 years.  This comes at a time when US exports of pork have fallen a reported 14% in the first two months alone – the most since 2000.            

Pork prices have seen a steady decline since Dec 2012.  With exports being down and pork production at highs, I would expect a continued bearish market,” said Jim Allen, licensed futures & Forex broker at Foremost Trading in Geneva IL, regarding the current hog futures situation.

In my work hog futures are at a crossroads, barely hanging on to their uptrend that looked to commence at the beginning of the month.  We are long hog futures and are using tight stops.

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