on hogs, my quick calc looking at the futures out through June '20.
Almost nobody owns hogs any more but a lot of people have hundreds of thousands, if not millions, in debt on contract buildings with the assumption that the whole ponzi* works.
If it isn't your problem, in fact your opportunity if you don't and your neighbor does, I get it.
Still, a problem.
*getting somebody else to put up equity so you can raise hogs is still a contingent liability. But an easier one to shed through bankruptcy.
I do see the greater risk here to the export oriented livestock "industry" and maybe you see it as a good thing if the Mexicans who kill the hogs go home, or something. Still would be a huge disruption with huge knock on consequences, far beyond the immediate and obvious.
