Cattle and hog markets could be primed for a bull run during 2019, according to a market analyst.
In an interview with AgDay, John Payne, senior broker of Daniels Trading and thisweekingrain.com, shares his thoughts about where livestock markets are headed.
Closing out 2018 fed cattle prices held strong with packers staying profitable. Payne believes that the number of cattle on feed will come down which should spark a rally in 2019.
For hogs, Payne has found it interesting that prices for lean hogs haven’t gone up with China’s recent African Swine Fever outbreak.
“I’m a livestock bull in 2019. We’re seeing limiting numbers. We’ll get the pig numbers figured out, in the short term it is kind of stock market trade and they are getting washed in with that,” Payne says.
For more on Payne’s thoughts about the cattle and hog markets watch the video interview above with AgDay.