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News & Press: Industry News

Doane Market Watch: Exports play big role in pork price surge

Tuesday, May 13, 2014  
Posted by: Emily Becker
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Pork Network

We have previously contended that stunningly strong demand powered the February-March spike in hog and pork prices.  The fact that the greatly reduced production experienced at that time still substantially exceeded normal summer lows represented the best evidence in that regard. That still appears to have been the case, but we must admit to having at least partially misjudged the source of that buying.  That is, we argued that domestic processors had apparently been panicked into buying much more aggressively than was usual for late winter and early spring, which held negative implications for the spring-summer outlook.  However, this week’s trade news suggested export demand was stunningly strong during March and probably played a big role in the price surge.  The following chart illustrates this point…

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