An ag economist suggests California’s Proposition 12 law is having a profound impact on the hog market.
Christopher Pudenz is with Iowa Farm Bureau.
“I think that Prop 12 is really a wet blanket. If you look at a futures market, your December contract and then your February contract on your lean hog futures market, they are notably lower than the contracts later in the year, the deferred contracts.”
While Pudenz says part of the market weakness is seasonal, the looming animal housing law that goes into effect January 1st is a big factor.