We are not suggesting the market has fully ignored Friday's bearish Hogs and Pigs report. It is likely more that with holiday trade this week we saw those new bears from the couple of weeks take a little quick profit.
Last week’s cash trade averaged $153.55 according to USDA’s closely followed five area report. This is 3% over last year’s $149 average price in the same week. Free market sales were a bit over the previous week’s incredibly small level.

Live Cattle

Rice closed lower again on Friday in mostly quiet trading.
Hog prices slumped to a nine-month low as supply concerns eased and record-high costs for pork chops and bacon eroded prospects for demand.
There was quite a reaction to Friday afternoon’s hogs and pigs report.
With bacon gracing everything from muffins to milkshakes, U.S. prices are poised to retreat from an all-time high as the fad wanes and pork supply rebounds after last year’s historic drought.
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The U.S. Department of Agriculture has offered its estimates on 2013 livestock supplies. However, short-term seasonal fluctuations are still at play.
U.S. hog farmers are slaughtering animals at the fastest pace since 2009 as a surge in feed costs spurs the biggest losses in 14 years, signaling smaller herds next year and a rebound in pork prices.