According to Summit Commodities market analyst Tim Marsh, having the Smithfield Foods pork plant in South Dakota shut down is comparable to having the beef plant in Kansas shut down last summer. Marsh says the difference is the current prices. “Cattle prices were at normal prices and crashed and the hog prices were already low. How far do you crash from $40? It think it’s more about timing than anything else.” Marsh thinks the hog markets could bottom fairly quickly, because of the already depressed prices. “It’s a futures market. As long as we’re not lock limit down, anyone who wants to sell it can sell it. The same fear is in the cattle markets as well.”
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