The British Pig Executive's (BPEX) Export Bulletin for the first week of September 2011 reports pig industry trends from around the world. Rising grain prices are causing some concern. The fact that US corn prices have doubled from a year ago, to more than US$7 a bushel, is squeezing livestock feeders and forcing local pork prices higher. Some traders in Chicago have placed bets on a continued rally that may make current prices look like a relative bargain with call options in CME Group’s corn market at strike prices of US$11 and US$12 a bushel. The number of such positions was up 15 per cent from a month earlier, an indication of growing concern that this year’s harvest will fall short.
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