Serious question. What are the people with possession going to do with them?
Been told that it’s not soo much getting them killed and dressed as it is the dam that gets hit when it comes to cutting them up and packaged. Complicated by the fact that there is barely any market at all for anything cured.
Solved! Go to Solution.
And if we'd get another leg down in LH futures I'm interested in some call strategies in the far deferreds.
Disclaimer: there is risk inherent in all speculation. That's why they call it speculation.
Around here a good many backyard hogs go for pig roasts, the whole hog on the spit. At one time many years ago, whole hogs or halves were shipped hanging in railroad cars to regional markets in the East where they would be purchased by local butchers for in-store processing.
Guess that’s part of why Smithfield just donated 10 M lbs of pork to food banks.
They can write that off at the wholesale price, but good for them.
Looked like mostly cured stuff.
A previously reliable actual player informed us this morning that in a number of plants there are bellies going directly to rendering.
Reminds me. Grew up eating side pork. Much more of that than bacon.
Did you have jowl bacon?
I’ve actually been buying more bacon than normal on my weekly grocery trips.
The reliance on fast food?
There are stories of euthanizing pigs that there isn`t room for further down the chain. Smaller 5,000hd plants are adding shifts to help with the shutdown of the 20,000hd Smithfield.
I have some ready to go next month, if things aren`t running by then, this is my plan B
Paraphrasing Loretta Haggers:
”It’s them what....showed up at the dispersal auction.”
If there is a bailout hopefully there will be somebody with the authority to and who cares about following the ultimate transactions.
One great big international criminal violation of a sovereign law in the Packers and Stockyards Act. Been the case way since long before CV19.