40 cent hogs is pretty good, it's when they get to 30 cents or less.
All Ag products, we have to improve yield/ efficiency because the prices really haven't gone up in decades. There are roller coaster ups and down for sure, but trebdline tends to be less than inflation over the long haul.
Poultry and hogs have mostly all gone to contracts; vertical integration.
Dairy appears to be in the middle of converting to that.
With most of production under contract, the open market becomes unpredictable and generally low.
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