This is not a recommendation to play pork. We figured that Famous Dave's would be a beneficiary. This is not a recommendation on DAVE. Not having looked at hog prices in some time ("barrows and gilts were higher today") we didn't know that in the last seven weeks pork prices have skyrocketed. So much for that idea.
Then we received an email from someone who has actually kicked a cowpie: "...They're coming for the cows"
And son-of-a-gun they are. From CattleNetwork:
| April Cattle On Feed | 11,684,000 | Change | |||
| (+) Placements | 1,536,000 | -11.52% | |||
| (-) Marketings | 2,010,000 | 9.12% | |||
| (-) Other Disappearance | 75,000 | 19.05% | |||
| (=) May Cattle On Feed | 11,135,000 | -4.70% | |||
| On Feed | February | March | April | May | % Change |
| U.S. | 11,966 | 11,853 | 11,684 | 11,135 | -4.70% |
| Texas | 2,930 | 2,920 | 2,880 | 2,690 | -6.60% |
| Nebraska | 2,510 | 2,490 | 2,450 | 2,380 | -2.86% |
| Kansas | 2,430 | 2,410 | 2,420 | 2,290 | -5.37% |
| Oklahoma | 355 | 350 | 340 | 305 | -10.29% |
| Colorado | 1,090 | 1,050 | 1,020 | 950 | -6.86% |
This is not a recommendation to buy Ruth's Chris Steakhouse (RUTH) but that may come, after we do some on the spot due diligence.