Wholesale pork is now at its highest level since Feb. 22. Cash hogs are at their highest level since Jan. 29. It is great to see this market is reacting to lower supplies that are now being offered. Our only real criticism of this rally is that it is coming very slowly.
There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.
The International Grains Council last month boosted its forecast for global wheat production by 1.6 percent to a record 713.4 million metric tons in the 2014-15 season on increases in Russia, Europe and China.