美国生猪现货继续上涨

　　We expect the hog market will be fuelled by cash hogs not the expectations created by lean hog futures. There is too much skepticism in the psychology of the market for futures to lead the market move. What we mean is that too many pundits are still expecting more hogs than last year. The only reality we believe will be fewer hogs. Less supply means higher prices. Lean hogs are now higher than a year ago.

　　我们预计生猪市场将被生猪现货拉动，而不是瘦肉猪期货。在期货市场的心理中有太多怀疑论可以带动市场变化。我们的意思是很多权威人士仍然期待出现比去年更多的生猪。唯一我们坚信的事实是生猪数量将会减少。供应下降意味着价格上涨。目前瘦肉猪的价格比去年同期更高。

　　Corn

　　玉米

　　Corn futures fell last week to $5.20 for December futures. Planting moved ahead. The talk of drought has been replaced by wringing of hands about too much moisture. The old saying “rain makes grain” seems to be leading grain prices lower.

　　12月的玉米期货上周下跌至5.20美元。种植工作正在开展。关于干旱的讨论已经结束，天气湿得可以拧出水分。有句老话说，“雨水孕育谷物”。这应该会带来谷物价格的下降。

　　VIV Russia

　　VIV俄罗斯

　　WE are on our way to Moscow to attend and participate in the livestock trade show VIV Moscow. Next week we will report our observations on the Russia Hog Market. It’s a big export market and the issue with Paylean is what we will be asking about.

　　我们正在前往莫斯科的路上，准备参加VIV莫斯科畜牧业展。下周，我们将发表我们对俄罗斯生猪市场的观察报告。这是一个很大的出口市场，我们将关注培林的问题。

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