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To: long-gone who wrote (24224)	12/13/1998 3:26:00 PM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116997

did you read the article Richard..how much time goes into chopping up pork and charging 2.39 for ground fresh pork? I guess you all don't get why I mentioned this..Who is making out like a bandit? ps. don't blame it on energy costs..they are at such an incredible low..how much labor is involved in grounding up the pork.. How is the farmer going to send the hog ..by email? this appears to be reverse of pork barrel..farmer over a barrel is more like it and consumers down the road will probably have only all conglomerate raised farm produce..all those crowded animals giving us potentially something we don't want to ingest..besides little price competition which is hallmark of capitalistic system..hope I am wrong.. at least that might solve social security down the road..unless people follow alan and move to the country and grow their own food and bake their own bread..

To: long-gone who wrote (24224)	12/13/1998 9:23:00 PM
From: goldsnow	Read Replies (3) \| Respond to of 116997

Swiss banks and ECB hold no hog futures (or do they? Cash Hog Prices Sink To 57-Year Lows, Oil Up 06:35 a.m. Dec 12, 1998 Eastern CHICAGO (Reuters) - Cash hog prices fell to their lowest levels in 57 years Friday under pressure from a huge number of hogs currently available to meatpackers for slaughter. In other markets, crude oil closed higher but still hovered around 12-year lows, and gold and silver ended down. Cash hog prices plummeted to prices not seen since 1941, knocking lean hog futures at the Chicago Mercantile Exchange down their daily trading limit, traders said. Hogs sold for slaughter in key Iowa cash markets sold from 9 to 14 cents a pound, with the low end of the price range rivaling 1941 prices and the high end hovering around 1956 levels. Hog futures traded in Chicago for delivery in February ended down the daily permissible limit of 2 cents a pound at 28.075 cents. ''More hogs are available in the market each day and each week than all the packing plants in the entire nation have the ability to absorb,'' said Chuck Levitt, an analyst with Alaron Trading in Chicago. Farmers who can't afford to maintain their herds any longer are slaughtering their breeding stock, adding to the vast numbers of hogs sent to market, Levitt said. The U.S. Agriculture Department estimated this week's hog slaughter at 2.213 million head, exceeding the previous record of 2.173 million set the week of November 21. Crude oil futures on the New York Mercantile Exchange held tight to small gains at the close, but the market remained stuck around 12-year lows. Crude oil for delivery in January ended up 7 cents at $10.79 a barrel. Traders are pessimistic that producers, chiefly members of the Organization of Petroleum Exporting Countries, will move soon enough to help lift oil prices, which continue to be severely pressured amid a large supply overhang. Early in the week, oil gained support after Saudi Crown Prince Abdullah called on producers to take further measures to rescue prices. But the market was roiled again at midweek after Venezuela's president-elect Hugo Chavez said his country did not foresee any new cuts in production, but that it would comply with current agreements to reduce output. Division within OPEC surfaced Thursday night when Algeria, a strong supporter of production cuts, blamed some fellow OPEC members for depressed world oil prices, accusing them of ''selfishness.'' Gold and silver futures on New York's Commodity Exchange fell on worries about deflation in commodity prices. ''Gold ended lower on some fund selling, with the mood bearish for commodities as a whole given weak demand in much of the world economy,'' said Dinsa Mehta, managing director of global commodities for Chase Manhattan Bank in New York. Gold for delivery in February ended down $3.30 an ounce at $292.60 an ounce, while silver for March delivery ended down 1.0 cent at $4.800 an ounce. Gold and prices may also have been undermined by Friday's data showing a lack of inflation in the U.S. economy, traders said. U.S. wholesale prices fell in November as food and energy costs declined, the Labor Department said. The Labor Department's producer price index fell 0.2 percent, reversing a 0.2 percent rise in October. Stripping out the more volatile food and energy components, the index inched up 0.1 percent, matching the previous month's increase. Copyright 1998 Reuters Limited.