瘦肉猪价格 = 亏损

　　• US Country of Origin labelling (Cool) has continually lost all court challenges. At the end of May Canada – Mexico can legally impose retaliatory tariffs. US wants to encourage global free trade for pork but Cool flies in the face of this. Retaliation could be on pork imports damaging US Pork Price. US Pork industry didn’t want Cool but got it anyway.

　　• 美国原产国标签（ Country of Origin labelling，COOL）不断失去了所有的法庭挑战。在五月底，加拿大 - 墨西哥可以依法征收报复性关税。美国想要鼓励猪肉在全球自由贸易，但原产国标签政策给他们自己一个耳光。采取报复行动可能会针对猪肉进口并影响美国的猪肉价格。美国养猪业并不想要原产国标签政策，但不管怎么说还是发生了。

　　We enjoyed Steve’s presentation as it was thoughtful and concise. None of us knows for sure what the future is, but it’s good to hear smart people like Steve speaking of our possible destiny.

　　我们喜欢史蒂夫的演讲，因为他全面而简洁。我们没有人能确切知道未来是什么，但很高兴能听到像史蒂夫这样聪明人的演讲。这是一种运气。

　　Summary

　　总结

　　Lean Hog Prices have taken a big hit over the last 30 days both cash and futures. The industry is losing money at a rate of maybe $75 million a week. It’s ugly.

　　在过去30天的现货市场和期货市场中，瘦肉猪价格已经出现 大跌。 这个行业正以每周7500万美元的速度亏损。 真的很惨。

　　We do believe that both cash and futures will recover. Like Steve Meyers we believe Summer hogs will get to $1.00. Unlike Steve we see more upside pushing to near $1.10. Less Beef, Less Pork in the summer months will push prices higher. As far as consumer acceptance $1.00 / lb. gets us almost to, but not quite to China, Russia and far lower than Japan-Korea in hog prices. Their consumers with far less disposable income voting with their money to buy pork.

　　我们相信现货和期货市场都将得到恢复。和史蒂夫•迈耶一样，我们相信夏天的猪价将达到$1.00。和史蒂夫不同的是，我们认为接近1.10美元的可能性更大。夏季的牛肉和猪肉减产将推高价格。即使消费者能接受我们想要得到的$ 1.00 /磅，这个价格仍然不能与中国、俄罗斯的价格相比，且远低于日本和韩国的生猪价格。他们的消费者们可支配收入减少，没有足够的钱可以购买猪肉。

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