Collapsing Cdn Hog Bids

[errolanderson]

Tough news for our hog industry right
now. The flood of hogs to market as a
result of the U.S. drought has triggered
a substantial cash market drop here.
Also, strong loonie a concern.

Western Cdn hog bids heaved 12 cents/kg
last week and a further 14 cents this
morning. Believe our cash market is down
into a $1.20 to $1.25/kg range.

Not sure if this will be a direct hit
toward our fat cattle market. Hopefully
not . . . but the consumer should have
cheaper pork at the counter. Beef market
share may be impacted into late Sept.

Cattle packers here appear to be pulling
on contract cattle right now. Alberta
fed cattle basis levels are now the
weakest of the year (about $15/cwt)

fyi . . . .

Errol

[cottonpicken]

At some point i imagine the perfect skip rope counter
trade will develop between hogs and corn.

Anybody short canadian housing?Ive only found one
investment vehicle,but not sure its the best.

[errolanderson]

cotton . . . Wednesday should be
interesting.

USDA crop report, Bernanke will he or
won't he QE3? plus investors becoming more
concerned about the China slowdown.
Suspect market volatility is about to pick
up.

[cottonpicken]

At this hour i have many doubts.

I dont doubt there will be another qe3,but before it
happens and all things I've read,something is not
right,bill gross saying buy gold ,WTF is that???,article
after article steering/hearding the direction of the
investment community,into the barn where a big man
with sheep sheers awaits for us dumb bastards.

[errolanderson]

Corn technically starting to break down.
Dec corn into the $7.70 to $7.75/bu area?
. . . ultimately looking for the contract
to take aim at $7.50 somewhere down the
road, but not this go-around, unless USDA
is bearish tomorrow.

This might spark a rebound in feeders and
lean hogs.

[agstar77]

Big sky has filed for bankruptcy.