November 23, 2014

Lean Hog Commentary

Posted 11/21/14

Cold Storage this afternoon was supportive for pork. At 525 million lbs. this was the smallest amount in two years (the month of October only). It was smaller than our 538 million estimate. Compared with the month prior it is 20 million lbs. lighter. The five year average for this month is a 2 million increase. This tells us that that October was a surprising second month in a row of strong demand. We all knew September was good as end users moved from beef to pork features. The question was about October. To put this into perspective this was the second largest drawdown for October in our database which goes back to 1970….

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    Allendale Advisory Contributor:

    Rich Nelson

    Rich Nelson

    Rich started with Allendale in 1997 after graduating from Western Illinois University with a degree in Economics. Rich represents Allendale’s advisory products through print, radio and television apperances.
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