Although wintry weather might also diminish supplies of hogs and pork during the days and weeks ahead, CME swine futures hardly reacted to the weather news powering December cattle futures upward. The fact that so many animals are now raised in confinement conditions probably mitigated the Chicago market response. Bulls and bears may also be undecided as to the ultimate impact, if any, over the likely course of short-term events in the hog and pork complex. That is, bears are almost surely anticipating a major seasonal breakdown in hams during the days ahead, which holds the potential to drag the whole hog and pork complex substantially lower. Conversely, the supply situation routinely tightens after the holiday season, whereas demand for several cuts improves in the new year. The real question for the industry is how much and how quickly the hog and pork complex will rebound in early 2013. February hogs had slipped 0.07 cents to 85.32 cents/pound, as the noon bell was warmed up, while June dropped 0.35 cents to 99.50 cents/pound.
Corn market slides at midday on Monday